Many newer investors have to start somewhere and older more-beat-up homes are cheaper and can help someone get their foot in the door.As for appreciation, this too is location dependent.

Statistically, I would bet that many of these properties could be at risk from a similar event before the reconstruction could even be completed.What is the new premium on a $5-10-20M insurance policy and how could it ever be recuperated during the life of the policy or length of the average 30 year loan? 

Are you looking for steady, low-risk passive income now, or are you comfortable taking on more leverage to scale faster?

This is typical let's beat up some landlords.

Raleigh specifically has introduced “Fast-Track Plans” designed to streamline permitting to build ADUs faster and more cost-effectively.

new construction gets valued at a way higher premium. this is a false statement. new construction will always beat existing Very market dependent.

Hard money can give you more flexibility and faster closings, which are often needed for investment deals.

Actually you'd never hit that because eventually the debt pushes you into a margin call and forced sell and you'd be at or near $0 in just handful of years at best. 

Yes of course its price can be more volatile and can go down faster than real estate would but long term it appreciates and pays every month.Curious on BP communities thoughts..

Well I was there with my antenna up, so just know that there may always be at least one in the crowd.