The folks who had it the worst were the ones who's houses weren't damaged, but were cut off by flows that covered the roads. 

That said, we are interested in potentially obtaining our own real estate license, for the usual reasons; MLS access, cut out the middle man etc.

Others simply don't care, they'll take the offer of a couple months rent and leave.I don't think the new ONtario rules apply here as you're not asking them to leave for personal use, so it's up to you and your tenant to decide what's fair.Your #'s look pretty good, I rarely find a true cap rate around 6% so if that area goes for around that cap rate you're already in good shape.Even if a few of the tenants don't agree to move right away at 5.8% cap your're still in pretty good shape and you can slowly work on it.

In a thriving market which currently is across the nation you can refi out of your FHA loan within a few years and avoid anymore PMI .Disadvantage is rates will no doubt be higher, which simply means you will have to do a cost analysis PMI payment vs higher rate.

Habitat would do it but that's a charity program as you know.My only suggestion to anyone engaged with new construction with Morris is to be uber careful.Home inspections at each phase is critical.. once you cover the walls you cant see the corners that are cut.. even though it could pass city inspection.. also you run into mechanics leins and so on and so forth.. building from ground up takes a little more experience than rehabbing.. 

@Zackary C Dunn Why not simply go to a bank and get financing?

I'm simply hoping to get a visual of a working flip and advise on what to look for when looking for Rehab costs.

Don't worry about what the lender will do, simply ask them.

David,  this is part of the cycle.. so many especially on BP started in real estate after 08 and their only perspective is the once in a lifetime buying opportunism that existed in 2009 to 2013 ish 2014 ish.. depending on area of the country.now to me its getting back to normal.there should not be thousands of wholeslaers there is simply not enough deals for all these who think they can make money doing that ... but they will find out..

A deal is simply buying a property for less than market value, ie below retail.