Flood zone properties. Can they be a good investment.

[John Echele]

Hello BP,

I am just starting out and trying to find my first flip house near Pacific, MO. What I have found a lot of is houses that have been flooded for sale for very cheap. Mostly small single family homes around $15,000 and even a few duplexes around $25,000. Most of these houses were abandoned after two major floods in 2015 and 2017. What interests me is that several houses have been raised above flood level and rehabbed. A local contractor gave me a rough estimate of $35,000 to raise a small house above flood level based on similar jobs in the area. Has anyone ever raised a house for a flip? What kind of problems come with flooded houses?