61 unit multi-family in flood zone

[Chris Winterhalter]

I'm looking at a 61 unit building in a flood zone in St. Louis. I like the property, area, and price point however I am trying to gauge if the property will be harder to dispose of after our planned holding period (5-7 years).

Are there any multi-family investors/brokers that have had experience with complexes in flood zones? I understand the additional cost for flood insurance needs to be added in however should I discount the property beyond that? I have requested all of the current insurance information, information on claims, signed affidavit stating any current or past issues etc etc. The property doesn't sit near the river but rather on a dry basin near a small creek. Any help would be appreciated!