flood insur needed?

[Marci Stein]

Looking to submit offer on a small 1 bedrm cottage in the country,
asking price $37,000.
It is riverfront, and next to a very beautiful home that cost $250,ooo.
The living room wood floor is warped and be it is due to Irene,
but now the County built a huge sand barrier to prevent floods .
Will i needed flood insurance if i buy this property to flip, or rent out?
this ia a foreclosure so no way to know if and when it has been flooded.thanks .