I liked this one the best because it's on a river and has great weather.

However,they have suffered damages more than once from bad weather, and it's not a very convenient location for non-retirees.

This will help you understand if you've weathered the storm, or if it's just starting.Walk the properties, and look at all the major stuff... here's a quick list, below, to get you started.  

“Force Majeure” means: hurricanes, floods, extreme weather, earthquakes, fires, or other acts of God, unusual transportation delays, wars, insurrections, civil unrest, or acts of terrorism, governmental actions and mandates, government shut downs, epidemics, or pandemics, which, by exercise of reasonable diligent effort, the non-performing party is unable in whole or in part to prevent or overcome.

You're response may be that markets fluctuate and budgeting is difficult and that is true but that is literally the job of sponsors so they should be better forecasters than that if they're accepting equity from investors.

Buy places in nice areas because those also tend to weather downturns better. 

Quote from @Michael Keith: The real estate market is often the subject of speculation and forecasts, some predicting downturns or even crashes.

If your goal is to have properties in markets that have weather you like, that's awesome, but you don't have to START there. 

If a policy excludes wind coverage (more common in places like Florida where insurance is severely strained by weather and other market conditions) then all wind related events are excluded.In those cases, it's sometimes possible to purchase a wind policy (usually covers wind & hail) which would provide tornado protection.

Rates will come down faster than MBA/NAR are currently forecasting. 10Y treasuries are comming down, but also the risk-premium spread to 30Y fixed will normalize as the perceived risk of a housing market crash is shrinking.