I am currently looking at a 2/1 1160 sqft .5 acre lotBuilt 1960 Pier and beam Foooded during Hurricane Harvey and all Sheetrock, insulation, and flooring has been removed.

All of those things can be mitigated by updating electric or plumbing and by supporting the basement with beams or reinforcing sections with newly poured walls.

I was laser focused on paying off my mortgage.

Got a quote from a contractor to remove a support beam and install a new support beam.  

About 15 years ago, I spent about $60,000 at each property changing all the beams and installed 600 lineal feet of ceramic tile for one balcony and all aluminum flooring on another.

Floor to exposed ceiling is over 7 feet but floor to the bottom of the exposed beams is less than 7 ft.

The inspector climbed into tiny crawl spaces with his flash light and said the beams were huge and that they were blackened but still thoroughly intact and there was no structural damage to either building.

If you get inside the Loop here in Houston a little pier and beam home thats completely trashed will still run you in the mid 200's 

I would look for a shell which needed a minimum of structural repairs (that steal 'I' beam was expensive).

Not exactly with me as an investor...but I was building a house for an investor so I guess that counts...So I was walking through a rough inspection with a newer Building Inspector and he was calling out all kinds of mistakes he was seeing - where's the 4x4 from that top plate to the beam....where's the support for the brace?