Borrowing from the equity must be done wisely or you will end up with negative cash flow and at high risk due to over-leveraging.NOTE: I use interest rates much lower than they currently are in 2024!

i have 2 properties that had wind damage , Both were covered , both same insurance company and this was 4 years ago and rates didnt go up much at all . 

Ponds are cheap.5.  

Well, it's boring if you don't like scuba, snorkeling, boating, swimming, fishing, the Mayan ruins, Xcaret, riding around in golf carts, a marina, Dolphin Encounter, etc. in a very secure, safe environment that has a very low crime rate, and is constantly patrolled.

I live in NJ, and it has a very high cost of living and with the current rate of interest, makes it a very pricey market so to say, and not that investment real estate friendly.

Craigslist lets you list rentals for free or cheap.

I keep wondering about insurance, vacancy rates, if tenant selection is a bigger/ different factor, terms of the tenancy and differences in opex and capex? 

That's true of every market now, I suppose, with interest rates and supply problems, until either prices go down or rents go up.

Right now the mortgage rates I'm being quoted for a 20% down DSCR is 7.75%. 

With high interest rates, we'd be looking at around $3800 PITI.