The tenants in my condo (upper unit) left the water running while filling a bathtub, resulting in water leaking into the downstairs condo.My tenant has $300K liability insurance, but apparently it doesn’t include any negligence water damage.

There is no comparison between the two tax levels.

You should easily be able to refi after a year though if you have enough equity, especially if you use a 203k loan on a fixer upper and there are good comps to support the new ARV.

Sadly many of the larger players are now marketing the houses that are in such bad areas they cant turnkey them to people as fixer-uppers or equity deals.

Will they stay at the 50% level if repairs have not been made?

So some older buildings can be off level or have other issues. 

The level of activity and involvement are very different, especially when getting started...and they meet different goals/objectives. 

It also has high levels of Radon. 

Otherwise a new build would qualify.Another thing to keep in mind is that the investment must rise to the level of a "trade or business" Buying a principal residence (even if it is a new build)  would not be considered a trade or business and thus would not qualify (unless further guidance is issued)@Melissa Gittens here is an overview of QOZ's:https://www.biggerpockets.com/forums/51/topics/586...

Think typical old floor that isn't perfectly level in all places.