Would you purchase buy-and-holds (Duplex) in a flood plane?

[Drew Wiard]

Hey BP nation.....I need your input!

In response to y most recent Yellow Letter campaign, I had a owner call me looking to sell a duplex that is in GREAT condition and cashflows VERY well.  We have not yet decided on price or discerned what he wants out of it, but he is looking to get out......may consider seller financing as well, if I am interested.

Here's the issue:  The Duplex is in a flood plane with a creek in the back yard.  Of course, I realize that should I purchase this property with a mortgage, flood insurance will be mandatory.  So that said, assuming it still cashflows well with the cost of flood insurance, is flood insurance enough security to cover the inevitable flood damage that will come at SOME point in this long-term hold?  Would you do it?  What advice do you have?  Thanks!