Do to the state mandates that require 100% reserves in all categories, combined with the rising cost of their neighborhood insurance policy, my strong recommendation is you find out what further anticipated spikes in association dues & if any possible special assessments are looming.

If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

Do you have any recommendations for learning how wholesale contracts work and learning more about the wholesaling process?  

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Since you're looking to expand into Florida and other states, I'd recommend starting by narrowing down your focus:Market Research – Florida has great opportunities, but each state and city has different laws, taxes, and demand drivers.

City Hall want to keep small town small, does nothing to promote town Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

It also depends on how you hold your properties; LLC, S Corp etc... as to what the agent will recommend.

The priority is consistent recommendations from active investors.

If you want to manage your own properties, I would highly recommend buying within an hour of your primary.