You’re risking other people’s money and you also need to get burned if it goes bad.  

Look for properties where you can add value with smart, targeted renovations rather than going overboard.Financing Strategy: Since you're aware of the leverage risks, keep your financing options flexible and conservative.

Taylor sent multiple email inquiries to our insurance provider asking what risks their policy covered.

Absent them, risk is controllable over time.I self manage a SFH in the Bay Area in a very pro-tenant city (some cities are a little less pro-tenant than others).

Obviously, the most important focus is on those who experienced loss of life, need rescue, and experienced total loss; again, my heart goes out to those people.From an investment standpoint, hurricanes are obviously a real, calculated risk of the area. 

Trust me; you don't want to miss those crucial dates and risk losing money or even blowing the whole deal.

This is what I do currently but it's a process of purchase, rehab, wait 4-6 months, refi, then wrap and sell (and risk DOS clauses).

Minimal risk.

Because their investments do NOT have a higher enough ROI adjusted for risk.  

Quote from @Michell Chase: I am working with a hard lender on a purchase/reno and they require a builders risk policy even though 1 unit of the 3/4 will have a tenant.