If you do not have those and still buy, you are gambling ... you may win, you may lose, but keep doing it and eventually the odds will catch up to you.

Nobody knows the future, but I wouldn't gamble on price growth in 2023. 

I think you may be gambling a bit on what your future buyer may or may not want...For Example if you get a lot zoned for multifamily and develop plans for a 5-plex and your buyer comes in and his plan was to build an 8 unit apartment... 

There was a pretty high profile case of a couple getting a hefty fine and some jail time over a fraudulent property disclosure here in Florida a couple of years ago:http://www.tampabay.com/news/courts/couple-charged...

bad business practice from the get go... if you want to list and sell real estate you might want to get in the profession were a listing agreement gives you 2 to 6 months to sell something and assures you get paid.. instead of going into contract with no ability short of finding someone to assign a contract.. its what gives wholesalers such a bad name in the industry. not to mention a seller can back out at anytime since you went into the contract with fraudulant inducement. you may want to rethink this some.. the landscaped is littered with those that try and blow what little cash they have and end up never doing a deal.

The threshold you are talking about should be the least of your worries and is something you can't afford not to have; do you want to gamble $150 vs $2,500 of potential disaster?

Its always a gamble but the flood variable adds risk that is hard to quantify up front.

With the cosmetic stuff I would be gambling that higher rent to help cover the eventual HVAC and windows, or a BRRR to take cash out.I don't expect the seller to take the offer.

You should be shooting for at least $100 per month per door in real cash flow.Of course none of this takes into consideration the appreciation game/gamble or amortization, however, if your goal is income, you need to be fully educated on operating expenses and all other costs associated with owning rental units.

How about the old and occasional appreciation misspelled as "gambling".