Here it is:1 - Must be able to get at least enough cash back out of the deal within 6 months to move into the next deal.2 - Must get all of my cash back that I put in within the first year (this is cash...not equity, tax deductions, etc...)3 - Items #1 & 2 must be satisfied while we cash flow at least $450/month with all expenses figured in...including a PM.

After paying the $55 deductible, their contractor refused to make the repair.

@Rod Desinord  one of the draws to section 8 is that in many markets the section 8 eligibility for 100% section 8 is 10 to 30% higher than market rent.so you can get 800 with section 8 but market rent might only be 675..

A line of credit, however, averages all of the eligible securities in the portfolio and allows LTVs that are far higher.

Even if it did, I am guessing your deductible is higher than $500.  

Given the damage, its highly unlikely they'll subrogate and its likely it will even be under the guys deductible. *#!

My tax return only shows I make 15,000 a year after all my deductions, around 25k if you add back in depreciation and mortgage interest.I have the down payment for another house but banks laugh at me and they want to see me make at least 60-70k a year to afford another 75,0000 in mortgage.

Sadly, paying down debt that is at 3-4.5% interest (and tax deductible) is rather silly. 

For my home and properties nearby, I selected a higher deductible plan to save a few bucks on the premium, but for a few properties we have that are hours away, we pay a bit more and have a lower deductible since there's no practical option to just go over and fix it ourselves.

If you choose to stay at a hotel, I would imagine you could deduct that expense, provided it was a reasonable distance from your actual residence.