If you are thinking rehab and resell, then documenting every step, showing you waited for all the framing to get dry enough to re-drywall and perhaps getting pro mold treatment with a warrenty would help mitigate flood value loss.

We currently use our own method of wholesaling and do about 30 deals a month. 

Step up to the Table and organize this.

Listen what I would do is drive around the neighborhood you can afford around 6pm if the bus stops have lots of people making there way from work there is one money to be made and two a community of decent ppl there I'm not sure if u have children if not living in a bad neighborhood isn't always as bad as it seems besides the money you collect in a year or two may propel you toward your real aspirations faster than not making the move and no matter where you buy your choosing the tenant so set a base line of what you will and won't accept and stick to it people live in Baltimore, New York, New Jersey all places that once where **** holes that have taken some major steps toward change but more importantly they made a big bag of money from those horrible hoods

Of course there is also insurance and taxes and maintenance (still well lower than the $1500 for stocks) but it is an asset that will appreciate (specifically where I buy) and if there is a crash I still get the rent.I do also invest in stocks using a method called Iron Condor on the S&P500 Index.

Investing in real estate is primarily a method to grow wealth not create wealth.

In regards to the ARV, what is the best method to determine this?

I jumped into my first deal and now need to step back and get my accounting, bookkeeping, systems and business in order before I proceed. 

If you are into trading or investing in stocks, then Norbert's Gambit is a method used to avoid currency exchange fees.  

Obviously a flip.If you are wondering how they bought it so cheap, look at methods used by wholesalers.