Would you buy a fixer upper in a flood zone?

[Michael M.]

Im looking at fixer upper north of Lancaster, CA. It's in a flood zone. Anyone have experience with live in flip in a flood zone? The property needs a new roof, flooring, kitchen, basically I doubt there's any room for profit, but I lived most of my childhood as a renter and I can't stand renting. There's something about four walls and freedom that is calling my name. If I can't get really cheap house in CA, I'm looking out of state as plenty of property is available dirt cheap. Like Cleveland, yes it's a warzone, but it can be my warzone wink wink.