High leverage enables rapid growth, no leverage is safe and enables peaceful sleep.

Make them safe at the project (which could be an unsecured house)?

Let me know man and stay safe with this incoming hurricane.

One hypothesis I have is that this is a very safe residential area in Oakland where a lot of people say it's a place they want to grow family in.

All are in my single member LLCs, so they pass directly through to my 1040 ... so I have a lot of schedule Es, 6252s & a ton of "Section 1.263(a)-1(f) de minimis safe harbor election" statements. 

Is it safe to assume that with rates much higher, that the target IRR is now in the mid to high teens?

If you have family or friends in the affected regions, urge them to prepare and stay safe.

The key is to buy a “good” property at a “good” price; if it can be financed with maximum leverage SAFELY, so much the better.  

It seems safe to say the properties with lengthy periods of tax non-payment are most likely to be houses the high bidder could foreclose upon.  

stacks of capital for unexpeeccted repairs, zoning, headaces you simply can NOT forse e until it happens, and 6 months of the mortgage in reserves for vacancy/ job loss. 50k an d8k in credit is mayb safe to by 1 property. that 38k you think is left, not nearly that will be left over. so what is leeft..... theere are your reserve. you have noting left to get another property