Did some research. 10 years of back taxes totalling a bit over 20 grand.

@Ayo Odusanyain the grand scheme of things, you still mainly only pay tax on realized gains. 

In the grand scheme of things, it's not a large expense, but still something to consider. 

In general we ensure the base quotes come through high-dollar restoration companies, we get maybe 65% of that amount, and the whole job is funded through a normal contractor with a few reductions in quality (no new hardwood floors, it becomes LVP for example).As long as you have an experienced project / property manager on your side you will do nicely on claims.Lastly, I chose ACV coverage for my portfolio because I am not hand-to-mouth broke...if a claim comes back a few grand short it's not a crisis.

It's a tough one, and I alway advocate for taking action now if you can afford it and it gets you started, over waiting and looking for a grand slam. 

Another concern might be the light commercial zoning for a FHA loan but as long as your property's residential use is grand fathered in then it might be okay.Currently title shows it as SFR so it should be okay.

I'd take the 3 out of the 5 grand and invest it in an index fund and get used to seeing progress of your assets growing and put some sort of automatic contributions to the fund.

I'm looking at Joshua Tree National Park, but keeping my eye on near Grand Canyon too. 

For a 2 bedroom I’m looking at at least 6 grand down.

HUM !!!