@Brett JurgensIt seems like climate risks can be mitigated with human technology, better buildings, desalinization, improved infrastructure. 

I would only hire out for major work I can't do myself or emergency repairs.I've dealt with older houses before and the house may be fine for occupants but there's still usually lots of things that can be fixed / improved so it seems a house that isn't perfect would give more opportunities for ongoing maintenance of this sort.To me it seems fairly straightforward to meet the time requirements but I think I need to have extensive documentation?

WWC likes to create several levels of value add in a community, with various levels of interior improvements.

I would suggest starting in areas like Merion/Hungarian for value-add opportunities, South Linden for fixer-uppers, and Whitehall - improving market.

If the repairs are capital improvements (e.g., replacing entire siding), you’ll need to capitalize and depreciate those over time.The unpaid rent is considered a loss, but it’s not directly deductible.

Interest rates are showing signs of improvement. 

That said, some lenders are flexible if you can show the improvements made. 

I'm hoping that my finances are much better at this time next year and continue to improve as the economy gets cleaned up, with the right person at the helm. 

You may be surprised how quickly the MLS value can improve with improved curb appeal alone as well, so consider the landscaping if you want a quicker way out of the property. 

You would determine an amount to set aside for repairs, improvements and vacancy beforehand.