Peter Haymond - I know this post is from a few weeks back, but I just came across at the bottom of another thread and I wanted to add a major point that may have been missed.

While I'd rather it not be rentals at all, i at least want to try and minimize the destruction of my home value by not losing all sun light.Thanks folks!

Some of them try to sell them, some others try to rent them or even donate it, but the vast majority does it with no success:

But if they donate it they would claim a $100K loss while building their reputation how they help the poor (while they contribute to the destruction of the middle class).

An image jumped into my head of 'For Rent' signs down the whole street and I knew that wasn't something I wanted to compete with.I prefer to buy in established neighborhoods where the majority of people own their houses.

Their credit (unless it can attach liens to the property) is not a major concern to me.For example the wife & I go to our local tax or property auctions & sit there with the bidders (after we have est a good price for a home based on its condition etc).

Flood insurance requirements are based on FEMA flood maps, and it's up to FEMA (and the local water management departments) to determine if and how the maps are to be changed.We had some major flooding in my area back in 2009 and the results were that some of the flooded areas got reclassified into flood zones that required insurance and some did not.

Does it make sense to put money away for major future expenses when the property is recently rehabbed and won't need major repair while we own it?

It's the only way I'll truly learn this business.My day job is working in the default resolution dept for a major bank.

Ask about current market value of a fixer and about major improvements to your replacement property and how they affect value.