I hope to hold as a LTR and believe in the area long-term.Some decisions will have to be made when this whole thing finally comes to fruition, especially regarding interest rates, insurance, assessments, etc, but hope to hold!

Each lot is assessed with the taxes to cover such cost and they are paid monthly for the first 15 (give or take) years as part of your mortgage payment.

Local government get's it done, and an assessment is levied on the property for the expense of such.

I would think that a property manager would be able to assess your specific unit, be able to determine what market rate is for the local area and the quality of the unit, what the market rate rate is for your specific unit, to suggest what your unit could rent for based on some improvements and have a sense of what rent increase would be tolerable by the tenants. 

Learn how to properly assess and QC the excavation and foundation phase, framing, roofing, siding, windows, etc.

I just wish those who are cheering and gaining pleasure from this had some form of diplomatic assessment similar to yours.

I am no professional here, just explaining from my experience.. first, insurance starts claim and they send adjuster out to assess, check damages, and collect documentation.

I suggest contacting an RE attorney who can assess your options.

I have 25 special assessments on my property tax bill, which I think is insanely high.  

A SE walk through would run around $600-1000 to assess it and would be a good starting point honestly.