Are your numbers standard for several properties where you are looking?

I did not have Flood Insurance, foolishly thinking my hurricane policy would cover this type of hurricane related damage (learned my lesson) I'm looking at expensive repairs and possibly a home that my tenant can no longer stay in (they evacuated for the storm as did I) which would be a loss of rental income for the foreseeable future, on top of uninsured repairs.

In order to avoid discrimination you should have a set of minimum qualification standards for all applicants.

2% of what you borrowed is standard for a monthly payment.

Your rental criteria should be what the standard is kept to.Either they have a Soc Sec Number and qualify or they don't and don't qualify.You want to rent to someone that's not in compliance,, then that's up to you.Don't make things harder for yourself than what they should be.No experience renting to undocumented,, but lots in denying because of invalid Soc Sec #.. or none at all.

Obviously the wild card is how widespread is the FEMA support going to be for those without flood insurance.  

We are fully licensed, bonded and insured and we specialize in helping investors with their projects. 

@Michael Watts some title companies will insure title with 3 years of rental history but no quiet title.

The President’s declaration allows HUD to offer foreclosure relief and other assistance to certain families living in this county.HUD is: Granting immediate foreclosure relief – HUD granted a 90-day moratorium on foreclosures and forbearance on foreclosures of Federal Housing Administration (FHA)-insured home mortgages; Making mortgage insurance available – HUD's Section 203(h) program provides FHA insurance to disaster victims who have lost their homes and are facing the daunting task of rebuilding or buying another home.

An average single family house goes for $65K brings in rent of about $1,200, taxes $2,000, insurance another $600.