Real estate investing can be a great idea for several reasons:Potential for Appreciation: Over time, properties often increase in value, allowing investors to build wealth through appreciation.Passive Income: Rental properties can provide a steady stream of passive income, helping to cover expenses and generate cash flow.Tax Benefits: Real estate investors may benefit from various tax deductions, such as mortgage interest, property taxes, and depreciation.Inflation Hedge: Real estate tends to keep pace with or outpace inflation, making it a good hedge against rising costs.Leverage Opportunities: Investors can use financing to purchase properties, allowing them to control larger assets with less capital upfront.Portfolio Diversification: Real estate adds diversification to an investment portfolio, potentially reducing overall risk.Tangible Asset: Unlike stocks or bonds, real estate is a physical asset that you can see and manage, providing a sense of security.Control Over Investment: Investors can influence property value and income through renovations, management decisions, and property improvements.Building Equity: As you pay down a mortgage, you build equity in the property, which can be accessed later through refinancing or selling.Community Impact: Investing in real estate can contribute to community development and improvement, positively impacting neighborhoods.These factors make real estate investing an appealing option for many people looking to grow their wealth and secure their financial future.It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

As mentioned above, you can get a par rate at no discount points, but you can also get above par and get the lender to credit you to cover closing costs.

At what point do you project rents covering mortgage payments?

Were you able to use that to help cover for damages to your rental home?

If you can cash flow, then amazing, but more likely you'll cover some or most of your expenses. 

I think if you had 40k and could find deals, and then you used a hard money lender for your acquisition loans to cover purchase and rehab, you can make that capital last a long time.

This is covered under Regulation X (1024.5(b)), outlined here: https://www.consumerfinance.gov/rules-policy/regulations/102...

I am concerned about theft during and after renovation so a policy that can cover that would be of utmost importance. 

I'd review of your flood insurance policy and see what's covered. 

2) Will a new tenant even cover your costs?