Quote from @Carlos Ptriawan: If all Ohio realtor agents move to Fargo, North Dakota suddenly Fargo would become so prosperous :) lol Honestly, Fargo seems to be doing well

I called the applicant and make sure that wasn't an honest mistake and all of the sudden she got very defensive and started calling me discriminate towards her application, major red flag and I denied her and blocked her and that's the end of that.

This is the part that I can't follow...because it doesn't apply here:  "...if aggregate rents don't cover expenses", Why would the rents all of a sudden not cover expenses?"...

The context with which you showed up suddenly and completely out of the blue, along with several other "brand new posters," about another guy selling something to newbies, is pretty suspicious, and I just happen to be an old cudmudgeon that hates all the scammy stuff that happens in real estate.   

We had no significant flooding, and certainly no storm surge, during Hurricane Ian.

You stick a tenant in housing like this with a $300 sudden bill to make the spreadsheet work for the month (and of course because you want to own houses in the hood and yet be too good to go down there when there's a problem), the tenant has no savings and is worried about making their minimum credit card payment for the month.

Higher amounts of leverage amplifies your gains, but also amplifies any potential losses making it generally riskier if the economy suddenly turns for the worse. 

And you can go to any local REIA meetup and announce that you're a private hard money lender, and suddenly be swamped with people holding their hands out for money. 

Will a house suddenly drop 40% unannounced (if bought correctly)?

This is a bit disappointing, so many of these deals suddenly don't seem so great now.