Any issues with buying a property in flood zone?

[Sharad M.]

Hello all,

I am looking to purchase a property to fix and flip. The property is located in flood zone. Are there any issues with it besides the buyer needing to get flood insurance on it?

Another question I have is when you look at comps, do you consider comps for a property that has no basement compared to the subject property with basement? How do you factor for the basement?

Thanks!