And get rid of the wet insulation on exterior walls.

Two of our rentals have taken on water and our personal home might too.I was thinking about going over there as soon as the water recedes under slab and start shop vacuuming, ripping out baseboards/door trim and sheet rock and insulation, and setting up fans.

Open it up and run fans and dehumidifiers for about 8-12 weeks and you will start to get to the moisture content levels that allow you to start replacing insulation and closing walls.  

A great deal will insulate you to a large degree from any short term market fluctuations ... in fact, that is the very definition that I use to analyze if I have in fact found a great deal ...

My uneducated synopsis: House has an issue with cycling air throughout the house properly (pretty much filtration soiling caused from improper placement of insulation).

Also if you look in the photo above there is insulation in the walls.

Also, you should look for opportunities to buy below market and force some appreciation, so that you are not 100% dependent on cash flow to make all your returns, you will be insulated to some degree from short term market fluctuations, you create multiple profitable exit strategies for yourself, and your cash flow numbers should also improve to boot.

The pilot light is still lit and I can turn the furnace back on if I want.This is my first home - logically it makes sense to shut something off when not in use, but houses have so many nuances and I want to avoid a situation like "well since you shut off the furnace that cooled the insulation which then caused flaking which then clogged your air filter and yada yada your foundation broke and collapsed and there goes your investment."

Also, there really isn't a clear detailed account of what has been done or not done and at what price/cost....the bid just had lump sum phases except for insulation and drywall which were going to be subbed out.

Everyone i spoke to did not replace wire.just remember; all drywall 12 inches above flood line, cabinets, doors, flooring(tile should be fine), maybe the a/c equipment, window stools, baseboard, insulation, outlets (at least) and it took us 3 months with multiple fans and humidifiers running to get all the wood back to acceptable moisture content.