Several of my investor clients have dealt with similar situations in North Carolina, and here’s my take based on those experiences.First, you’re right about the legal framework: NC landlords must make reasonable efforts to re-rent the property, but tenants remain liable for the rent until a new tenant is found.

I think that strategy works best in higher areas or mid term rentals near major employers.  

Rates will continue to increase as more major disasters happen.

Even if you have a good framework, it's much harder to manage virtually and stay on track.

Also, before you buy another property you'll want to determine your ideal next property - meaning, will it be a "rent ready" house, a major renovation project, or somewhere in between.

Examples:44109 (median home price went from roughly 50k to 125k in 8 years)https://www.zillow.com/home-values/77009/cleveland-oh-44109/ 44102 (median home price went from roughly 30k to 120k in 8 years)https://www.zillow.com/home-values/77002/cleveland-oh-44102/ 44106 (median home price went from roughly 100k to 200k in 8 years)https://www.zillow.com/home-values/77006/cleveland-oh-44106/ It has the highest rents on average in all of Ohio for major cities and the median home value is not even in the top 3.

I was able to move out of my parents house in an expensive market by using the other unit rent to cover the majority of the expenses.

The majority of the business I do is buying small multi families and identifying the towns that are more favorable for investing. 

They say not to make two major life changes within a year. 

Minimal changes to effect common entrances, no major shifts in load bearing, easy plumbing changes for wherever the new kitchen would be... it's a lot of boxes to check.