The key is to do you homework BEFORE you get in too deep.

As Scott mentioned, with a 2nd tier QOZB entity under your QOF, you get more breathing room to deploy your capital.

I dont see this changing underwriting.. its not like its an annual event.I just happened to be in Jackson MS when the last deep freeze happening in Jan of 09 and it was a major mess there with city mains bursting everywhere and the city literally out of water.. 

The only way to buy at your stated numbers is to invest a significant amount of time and/or money drumming up your own leads, and you will be competing with people who have been doing it for years and have really deep pockets.

The worst one needs new doors, a deep clean as it smells horrible, and paint/patching.

I would do some deep research on syndicators and find a handful you really like.

I mostly need someone to be available in case of tenant emergencies, and to coordinate inspections and deep cleanings between reservations. 

Several factors: having a great mentor who held my hand on each step; having trusting investors with deep pockets; having a great property manager for whom my business is important; the ability to analyze numbers and run scenarios; and focusing in one region (Kentucky) where competition is lower.

You may wnat to check out our blog here on BP and our Deep Dive series on City of Detroit neighborhoods and suburban cities.

If the block isn't deep enough, it's more susceptible to frost and fracturing.