Adjusting for vacancy with rental homes in a flood zone.

[Eugene Davis]

Hello, I’m brand new to real estate investing, and I’m hoping to buy my first single-family unit to rent out soon. There are many homes for sale in my local market because of Harvey and Imelda. Many have already been repaired. My own home flooded during the above-mentioned tropical depressions, so needless to say, I have a little flood anxiety. Getting to my main question; does it make sense to buy a rental property in a flood zone and set my vacancy expense for the average repair time after a flood? Allow me to add a few more details. The average time, according to my contractor, to repair a home is 5 to 6 months. My contractor happens to be my brother in law; he takes pride in his work and I consider him an advantage for me getting in this business. Any extra advice for someone who is new would be appreciated. Thank you.