@Jodi G. have you continued with these similar flooded flips and finding good results?

@Andy Bondhus I don't know the legality behind any of it but I do know that a lender can offer a program with specific features, in this case escrow, and if you do not agree with it, they do not have to lend. 

I think values will probably continue to rise but then they could stable out after everything settles down.

The new tenants chose to keep those appliances in place and I added an addendum in their lease that stated they were responsible for any costs associated with maintaining those appliances -- I continued to be responsible for the stove and refrigerator.  

I am sure I will be reaching out to many of you for continued wisdom. 

I could sell my house to get the funds but the value on my house continues to grow (located in the up and coming Avondale hotspot) so I would hate to cut off that asset at this time.

My question is- am I better off continuing to save and buy something bigger/better later down the road OR do I jump into this as a temporary primary residence and future long term rental? 

This is the one aspect of investing that as opened so many doors for me and continues to do so.

I am deliberating two possible scenarios for myself in the future to continue down the path of working for my self and family as well as investing.Scenario:80k-100k cash on hand not in a rushOption 1 potentially:Find a older duplex 30-40k for cash with a higher estimated arv than the projected rehab, rehab property, rent, refinance.

Some of that should take shape on its own as it will continue to be much easier to finance owner occupied units in the building rather than investment.