I sold a beachfront home last year that was ICF constructed in 2000 with a metal roof on concrete pilings and the insurance went up triple what my larger 2019 stick built with shingle roof 6 lots down is. 

Bakersfield is also massive with nothing naturally stopping outward sprawl.

According to the IRS guidelines, mobile homes set on concrete blocks and that are always capable of being moved from their sites on their own wheels are considered personal property (5 year).  

The onsite-manager’s unit had a concrete floor which sometimes got wet from water coming over the sill in big storms.

Same for a collapsed sewer pipe - they won't pay for the repair to the pipe, but they do need to pay for the damages caused to access that pipe like removing flooring, drywall, concrete, etc.

I'm sure it's a massive headache. 

In the upstate, the damage is not like what you get with a tornado where buildings are leveled nor is there massive flooding (like we've heard there is in Western NC). 

@Kyle PascualFirst of all I would get out of stock and sit in cash for the short term the Fed as you know just drop rates by 1/2 of a percent last week over the last 30 years anytime that has happened the economy has been in a recession within 6 months and the stock market has had a massive correction.

Currently working with a Tech student and investor (won't tag him unless he wants to chime in himself) on a short sale deal that is providing him with massive amounts of built-in equity out of the gate since he was able to get it so far below market value.

Ok, great, but the troubled loans in his portfolio won’t be able to refinance into GSE debt without massive cash injections by the borrower because agencies are topping out at 60-ish LTV (current value).I agree with you that there is an opportunity here—but I wouldn’t want to touch any of this bridge debt unless bought at a very steep discount, and so far those trades don’t seem to be happening.