We do have a mortgage so insurance money goes to the lender which then does inspections to release the money.If it's still a desirable area it will still rent post flood.

We also of course have a large multiple insurance settlement that I want to invest intelligently which I'm thinking will make all of my goals possible.   

Insurance institute recommends original pine-sol after a flood.

@Aaron Johnson1-4 family homes are FHA eligible.FHA limits are based on each county around the country and the owner's ability to pay.FHA includes mortgage insurance for the life of the loan.you can put down as little as 3.5% for a 1-4 family home.there are some allowances for adding closing costs to the loan.

Purchase Price 175000 Currently Value   186000 Equity   45600     Mortgage, Insurance, Taxes   1165 HOA   120 Maintenance 10% 145 Vacancies 10% 145 Management 7% 100 Tenant Placement 8% 121 Total Costs   1796 Rent Price   1450 Equity   200     Monthly Cash Flow -346 Yearly Cash Flow -4150     Monthly Cash + Equity -146 Yearly Cash + Equity -1750Thanks for all comments in advance! 

Insurance?

Who is paying closing costs / title insurance? 

Let's say you have $100000 available and you buy ONE investment property that cash flows $1000 after taxes insurance and management.

I suggest you look at local tax rate, insurance carefully, utilities are low if you have to foot the bill. 

Cost is 285k im not sure what the closing cost will be im estimating the followingPurchase price 285kClosing cost 6kRehab [email protected]% conventional Down payment 5% 15kI dont know what rent for the area but i look and see maybe $1400 each unit Im doing $80 for water per month$125 insurance month$200 repairs per month$300 taxes per month$1487 Mortgage $700 plus Cash flow Am i missing anything ?