Any advice would be helpful as I'm just starting out and am very excited for this whole journey ahead!

I’m not a betting man.

Moving forward scaling with hard money loans may be the best bet and would avoid the headaches of living in a construction project. 

This platform has played such a key role in my journey over the years.

Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.

This will likely change through your real estate journey, but I always recommend starting with something in mind.

Statistically, I would bet that many of these properties could be at risk from a similar event before the reconstruction could even be completed.What is the new premium on a $5-10-20M insurance policy and how could it ever be recuperated during the life of the policy or length of the average 30 year loan? 

I would bet the older homes will see a lot more appreciation than the newer homes, percentage wise. 

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

If you cannot prove income then our rental DSCR loan will be your best bet.