Hello -I am looking to purchase a home that has been gutted after Superstorm Sandy on the east coast in a sleepy shore town with great access to major cities nearby.

Account Closed Yeah the other nearby Restaurant is has a whole back story to it. 

I'm looking to meet some REAs, CPA's, lawyers and other investors both young and young at heart nearby to possibly build relationships and learn/gain insight.

A house in a nearby town to my hometown is about to be auctioned off on the courthouse steps (literally).  

@Ben WilkinsI don't see why the property can't go up in value if it's in a good location based on fundamentals with low unemployment, nearby amenities, aesthetic appeal etc..

If the roof goes bad 7 years sooner than expected, and insurance doesn't help you out, your roof escrow account will probably run dry pretty quick and you will need to fork over cash out of your personal pocket.To me, it seems like keeping a budget nearby (such as directly below your excel income statement) is going to serve the purpose you're needing.  

Most of the areas nearby are either outside of our price range, or don't have much cash flow (although there's a good history of appreciation).

Property is extremely good for commuters, and limited rental competition near by.

But, the condo is in a great location, rental inflation could increase cash flow over years, the condo is much cheaper than other nearby condos because of the land-lease.

If it is a couple, I would suggest a bottle of wine, a gift card to a nice restaurant nearby, and a nice thoughtful card apologizing for the inconvenience.