Buying multifmaily in high risk Flood Zone areas

[Nick Desso]

does anyone have any experience buying in high risk flood zone areas?  One area I have my eye on is victim to a 100 year old flood and all houses 3 miles along the river are in flood zone A(which is the highest level).  Most of the buildings are boarded up, or landlords not tending to the properties.  

I feel like this area has huge potential but the flood zone is preventing anyone from going to a bank.  

Anyone have any success in flood zone areas?