The real estate agent said that in order to find what we are looking for we would need to look in the 400k price range and have to put a minimum of 5% down.

Most are in the .5% to .8% range.

Given the debt free nature of those properties you've got a lot of possibilities You may want to test the market to see about a value add project in the low 1 million range. 

What i've learned that the quote ranges form 20k to 39k depending on, tear off, TPO cover up, TPO w/insulation 5 install. 

For this reason it should not play a big part in the decision making process.The question you want to ask is if you have a partial loss, range of $100k-$300k, what % of that claim do you want the insurance company to pay and what % are you willing to pay or have reserves for?  

In my $1200+month B+ rentals, I'm still in the 50% rule range most years. 

Step 4: Figure out CRet= [(Total Appreciation + Total Value of Rental Profit)/ Home Value 2010.]BEST CITIESHere are the top 20 cities with the best CRet in alphabetical order: They range from 82% -46%, which is 6.9%-4.3% annual unlevered return (Sorry for the weird formatting) Arvada , Colorado            Aurora , Colorado             Bismarck , North Dakota            Broomfield , Colorado           Centennial , Colorado         Denver , Colorado           Fort Collins , Colorado    Highlands Ranch, Colorado  Lakewood , Colorado                Longmont , Colorado          Loveland , Colorado        Mountain View , CA        Newport Beach , California        Pittsburgh , Pennsylvania                                      Redmond , Washington          Santa Clara , California   Somerville , Massachusetts          Sunnyvale , California               Thornton , Colorado               Westminster , Colorado Yay!

This was calculated at the time to be about half of what the stock market had dropped (after today we are in the 25% or greater range).

If something came on in that size range that met my criteria I would go for it.Hard to say if next month, or next July, is better than today.

What rent range are you expecting once you raise it?