flood zone house

[Runa Laila]

Hi all, I am a new investor. I saw a house yesterday, I did like it, However, its in flood zone. My plan one day converted the garage space to make a living area. Since it's in a flood zone , I am hesitate to go forward to make offer and it's multifamily and asking price is around 700. I hard flood insurance cost in my area is 5000/year, however house tax is 9000, relatively lower than the other house around, which is good. Since it's big amount of money to invest, can you guys place some insight whether I should move forward ? Thanks for your insight.