In this case the flood map covers the area, but we suspect the elevations are actually above the flood level. 

DAY OF CLOSINGPick Up KeysPick Up Hard Copies of Lease DocumentsPick Up Personal Property (as-needed)BUSINESS PLANMarket Lease RatesGarage / Parking Lease RatesOperating BudgetDistribute Entity EIN # UTILITY TRANSFER/SET UPElectricalElectrical - SCE Auto/Clean and ShowGasWaterSewerTrashTelecom SERVICE CONTRACT SET UPLandscapingLaundry Facility Service (DO NOT EXTEND CONTRACT - SIMPLY REQUEST NEW FORWARDING ADDRESS)Pest ControlJanitoiralPool CleaningFire Equipment (Extinguishers, Alarm Box, etc)Elevator Service ContractCourtesy PatrolWater Servicer Vendor RESIDENT RELATIONSNotice of Change of Ownship / ManagementChange of terms: RUBS, Pet Addendum, NSF, Late Fees, Removal of HVAC from WindowsDistribution of New Resident Keys (Laundry, Gate, Pool, etc) MAINTENANCE & OPERATIONSChange all Locks/Keys {Gates, Utilities & Laundry -- Standard Key}, {Office & Shop -- Special Key}Maintenance ShopTool AuditTrash OutStorage Room & Janitorial RoomsTool AuditTrash OutCreate Building Systems Project ManualWater Main LocationsBuilding Water Shut Off Valve LocationsWater Heater / Boiler Specifications & LocationsSite Lighting Timer or Photosensors LocationsPool Equipment & Timer LocationsGas Main LocationsElectrical Panel/Switch Locations

Quote from @Chris Webb: Elevate syndication deal... this after they asked LPs for $100k in December. 

So for your compounding "what-if's" scenario is an oxymoron (a figure of speech in which apparently contradictory terms appear in conjunction).   

When the potential for risk begins to elevate relative to returns - look for the ext.

If there are elevators, add another 5%.In my opinion, 30% is too aggressive.

Unfortunately I do think elevated deaths of the pandemic will last 12 months but we’ll get a better handle on it and the economic impact will be significantly short.

Depending on age and some other details like type of construction, elevator, etc., a 41% expense ratio is reasonable.

My take is that it's relatively high in elevation 5,300 ft which makes it the worst of both worlds.

New Mexico is, well, poor and high elevation.