At this point I’m trying to put together a game plan and after having read these three books this seems to be the recommended path:   A: get a real estate license,  B: start searching the MLS and other resources for deals, C: start viewing properties and try to assess good deals using J Scotts MPP model, D:make an offer. 

However, I think that discipline, networking, and thinking deeply and critically about goals and how to get there, while assessing risk is fundamental for success.

What are your thoughts and the best way to assess if one needs to change and how.

The rating scale is not formal, it would not be on an assessment, it's just based on your feeling when you know an area well. 

Information required when applying for ICC Grant:letter of substantial loss from Town must state that home has sustained more than 50% of it’s value in flood damageTax Assessment from Town Appraiser (current house value excluding the land)Current Elevation Certificate (from a licensed surveyor)Color photos of house as isLine by line breakdown of new elevation work including foundation work and it’s cost.

@Tim @Tim Spollen Hello Tim, I agree with your assessment.

You may end up with a large assessment (20-40K+) that has nothing to do with your unit and what you can rent it for.

I know the Kihei vacation rental market as well as anyone and if you want me to look at your numbers and give you a real honest assessment of what your returns could look like let me know.

Thanks guys my estimated ARV was 75k which is right around the tax assessed value, I will still cash flow after the refi.

Assessment of where you're buying and its 'frothiness factor'2 - Your need for cash flow vs longer term appreciation/equity building, mainly will depend on your time horizon with owning the asset3 - Your skills/ capabilities - some people are more naturally geared towards handling lower class areas, tenants, and usually the items that come up maintenance wise with this.The advice I usually give to 'youngins' (I'm 36 by the way) is to take the long view - which means the equity building, and your TIME to continue focusing on your career, building skills, etc - would lead me to be biased towards the property that you felt would hold / appreciate in value more over time.....