This is one of the only deals I've seen where cashflow isn't negative. 1968 triplex with 3 car garage on the market for 71 days.Purchase price: $289,900Estimated cost of repairs:  $5000ARV: $335,000 (this is best guess with what comps I was able to dig up)Closing costs: $2500Down pmt: 25% ($72,475)Loan amt: $217,425 amortized over 39 years @ 5% interestUtilities are paid by tenants so I would only have to worry about trash ($84/mo), insurance ($167/mo).Maintanance and repairs: $132.10CapEx: $264.20Vacancy: $132.10Property taxes: $279.67Rental income: $2642.00Cash flow: $415.75Cash on cash ROI: $6.24%I have not walked the property so I can't be certain what the HVAC or roof look like.  

Best decision I've ever made.

Kyle,Property Insurance generally is written on an "occurrence basis" meaning that the policy in force at the time of loss is the one that pays. 

A bad relationship with one of these folks can really put a damper on your projects - take control - you are the final decision maker when it comes to spending your money to make money.Never give a deposit up front - pay contractor in stages as work is progressing.

That, or the questions will be already addressed on another forum.In an effort to get back to some information that might help you make the decision that you are faced with now.

Also, I know I shouldn't let my emotions affect my investment decision, these are all very old houses and I can't help but think that every time I turn around I will have to deal with repairs of the roof, flooring, stairs, driveway, furnance, so on and so forth non stop.  

I will be obtaining flood insurance forthwith.

But in the end, I make the decision as to which tenant(s) to rent to.  

With the destruction of hurricane Harvey what is a smart decision to make in this regard?

However with the destruction of hurricane Harvey what is a smart decision to make in this regard?