Let everything dry out really good. 

I own a bunch of 4 units and im lucky to get $150 a month at $1.50 a wash and $1.50 a dry.  

It's a dry almost desert climate.

Te point of it all is just to pull the trigger. 

My goal is to sell a rental around this time next year and pay off my mortgage, allowing me to have time to devote to family and real estate in a much more serious way also having the ability to pull the trigger as soon as I see something I like.

As a buy and hold guy I am looking for greater security than a wholesaler or flipper might have seeing as they are going to get out of the property, ideally before it floods, and I want to have the home kept nice and safe and dry for a long while.

When it dried up a few years ago, the gurus realized they'd make more money guru-ing than real estate investing. 

You don't have to pull the trigger and make any offers just yet, but get started anyway. 

If so, that knowledge, actual (from the inspection) or constructive (from your agent/attorney) triggers the duty to amend your disclosures RE the present condition of foundation. 

Having been on both sides of owner-financing for commercial property, if you came at me with that offer I would expect you to be trying to refi before the ink on the transaction is even dry.