We actually had 13 insurance claims from that one storm. 

Here’s a bit of background on my current situation:I own one rental property that generates $1,900 per month in rental income, and it is paid off ($300K).My primary residence is also paid off ($288K).I’m currently building another rental property with cash ($200K).

I would be careful how you go about this one.

Another thought - are you considering an FHA loan on the next one?

Quote from @Michael Dumler: @Carsyn Childress, I can't speak on behalf of your market, but whenever I attend an REI meet-up in my respective market, I always connect with at least one or two wholesalers.

We'd even be happy to move them into one of our (future) properties and just let them keep all/most of their rent income as free cashflow. 

Some investors will wait until they have several properties before forming an LLC but it's often beneficial to set one up early especially with your first property.

One way: price.

When I was pursuing that at one point I only had 1 out of 50 applications reach back out.  

One building has 4 units in it and the other building has 2 units in it.