The insured level is in 7 figures but less than 8 figures.

At this leverage level, I would pull all my working capital out (~$83k) and potentially even boost my working capital by $9k ($92k note minus $83k invested).

We're are certainly biased here, myself included, but I would take the $500k and invest passively in several syndications, then with your income level, I would save $100k+ each year and passively invest that into more real estate syndications.

This will end up being a Section 8 route as rents in this area are so much higher on a govt program and Baltimore tenants on assistance for housing can be very picky.. we've looked at some rehabs in the area to see what the standards are, fortunate to have the opportunity to have that look-see prior because it really helps with estimating what level is needed to attract tenants.

Main level is about 4 steps off the ground, then a second floor for egress from the upper units.

They're at eye level. I

The answer to this question is... it depends.It depends on how you view risk, where your comfort level is in using leverage, and how creative you are in structuring a transaction.I can't say it is right for everyone, but I've kind-a-sorta operated in a manner of go big or go home.My 1st true investment was an SFR i bought with zero $ down on a land contract.

At least not to the level I need them to know it.

Based on what I can find on FEMA/NFIP maps it looks like it's in "Other flood areas-Zone X" or:"Areas of 500-year flood; areas of 100-year flood with average depths of less than 1 foot or with drainage areas less than 1 square mile; and areas protected by levees from 100-year flood."

That might be the level I "stop" at.