Are home in the floodplain typically harder to sell?

[Miles Stanley]

I'm looking at offering on the property that is right text to my childhood home. There is a small concrete rectangular channel that separates the 2 homes (it's in a subdivision). Now according to the FEMA FIRM, this ditch and the land adjacent (the 2 houses described above) are in the 100-year floodplain (which i think is ridiculous bc we've had several floods exceeding the 100-year in my life and it has never over-topped...there are steep embankments on either side that help with flood conveyance).

So, the neighbor is looking to sell off market and has given me the chance to offer.  I'm wondering if i can use the fact that the property is in the floodplain as a bargaining chip since i would think a floodplain home would be harder to sell to the average homeowner.  

My plan is to hold it as a rental, but the flood insurance premium might be a CF killer.  Separate issue though...unless there a way to argue with the lender that flood insurance is not needed...fat chance i assume.

Any thoughts? 

Thanks,