It's going to be a good long while before things get back to normal around here.  

I have confirmed what @Garrett Brown shared -- my best option is an SBA disaster loan with a lower than normal interest rate to pay off our mortgage and then I can also hope for / pursue with others a land buyback program for those of us who have floodplain property that FEMA won't reinsure.

I personally think a 8% to 10% cash on cash return is hard to achieve right now.It is easier if you are talking about overall return(Cash on cash plus appreciation).I normally aim for 4% cash on cash and 4% appreciation annually.Furthermore, using financing makes it harder to achieve higher cash on cash returns because in most markets, the interest rate is higher than the rate of return.Best of luck

And I'm open to your comments, so please comment:)The SCS wants a wetland delineation and NPDES permit in addition to the normal E&S plan and stormwater controls.

This is more like a hostile take-over than anything normalized finance world.

Whether I find a new tenant or not, the departing tenant moves out after 30 days and is treated like an ordinary termination, which means I process their deposit like normal and they can earn a good landlord reference.2.

Lets face it, the higher the yield normally the higher the risk. 

The interest rate on a HELOC is usually higher than a normal 1st lien mortgage, but I am seeing some cases where HELOCs are in the 6's and 7's (where credit score is high and LTV is 65% or lower), which make them pretty comparable. 

Meeting strangers at a vacant property is always a gamble also.  

Welcome to the BP Forum and being overwhelmed before you make your first acquisition is totally normal.