Washer and dryer might be a great addition.

Exclusive neighborhoods, highest priced homes. 

Do you allow additions or outbuildings? 

Why is this additional?

Or alternatively if the owner walks away, and the bank decides to sell the NP'ing note ... does the insurance coverage convey with the note since the bank presumably required to be listed as additionally insured on the flood insurance policy (if the property was in the flood zone and one was required)?

@Mark SpritzWhile a Solo 401k may or may not be a better structure for you based on your situation, the additional benefits (beyond contribution limits and loans) include the following:-No custodial requirement-No need for LLC cost and admin to have checkbook control-Built in Roth-Spousal participation-UDFI exemptionsThe cost comparison depends on what providers you are looking at for each.

That is in addition to your rehab budget.

Our contractor earns 15% plus an additional 5% bonus if the property sells for 40% or more of the amount invested.

In addition, depending on where you buy the schools could be pretty well rated.  

Account ClosedI'd recommend Kevin Powell as an realtor who almost exclusively works with new investors and owns multiple investment properties.