Been there and done that too.Used to manage 20 units with Section 8 while owning 10 units of my ownAfter 3 months I saw how much more time I was spending on the Section 8 tenantsThe 20 units took up about 4-5 hours of my day EVERY DAY.

So buy a 4-5-6 bedroom home with 3-4-5 baths and rent by the room. 

We are $35 TRILLION in debt and we want to throw another $45 BIllion after it ?

MF were 5- 10k per unit, now 45- 70k. 10 unit I sold for 250k, 8 years ago, just sold for 1 MILL!!!!!! 

A client can also close on a new property in less than 45 days so no long closing or pre construction risk. 1031 exchanges are easy to fulfill with our model.

We've had 4-5 showings so far. 

And actual major flood events in the last 45 years in reality have not come anywhere close to the elevation where this property is.

You're looking at 4-5 months if you file NOW.

And 30-45 minutes of that is bookkeeping.

We purchased a property, signed contract for a 45-day SoW (cosmetic rehab, add AC) and after about 30 days it's been radio silence.We have been pretty patient and now at 60-days past closing we've engaged another local PM who is going to be re-keying, assessing rehab status and taking over from here.I think similar to OP there's nothing particularly nefarious or shady going on here, but the follow-through and ability to land a deal is significantly lacking with this team.