Its a great lower priced option to get into the game 

Leverage is based on loan to value.

Overall, gained $260K in value (based on appraisal) while investing $220K Lessons learned?

I will continue to look for properties near military bases, rental history has been fantastic.

Decide if you want a two, three, or four-unit building based on what you want, your budget, and how much work you can handle.

And others have pointed out that building in flood zones can be much more expensive with special permits, requirements like living area starting above base flood elevation, probably more than the $25K difference in the lot that's not in a flood zone.  

Hey @Sophia Oberlander, based on the tax court cases I've seen it would depend on how strong their other hours logged are.

I'm planning to use VAs to help with the first part that you mentioned - qualifying homeowners based on interest in / willingness to sell.

I'm not very familiar with how flat roofs work, but I'm going to relay what my handyman told me, based on what he saw and the account of a tenant who witnessed some of it:-They tore the existing off the roof, did not replace any sheeting.

Now the debate of where rates "should be" would be based on the quality of product each person/owner offers.