Since most of the homes that flooded took on electrical damage, you will almost certainly need to file a permit to do renovation as you will need the electric company to shut the power off, provide temporary meters, and turn the power back on.

This will minimize the tax burden of the gain you currently have and defers any other gain through the 1031 giving you more buying power going into the future.

I looked at something similar about a decade ago which was some camping log homes in upstate maine which was a beautiful place but the place did not have power (only generator) and heat was via fireplaces.

Owning rental properties is not freedom.

RE's super power is equity over time.

There are cool new chargers that plug in right behind the power meter.

The power plant near there helps quite a bit.

You cannot beat the power of an ADU for peace of mind, leveraging your home to pay less monthly and reduce your expenses and give you the experience and confidence of doing constriction, getting permits and working with the city and managing a very easy rental.

Happy Thanksgiving to the BiggerPockets community!I am looking for feedback on what to do next with my real-estate portfolio.Current situation: - We have 5 rentals properties spread across Tulsa & Florida (9 doors...

Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.
Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were e...