Purchase a Property in Flood Zone AE?

[Jeffrey Marschke]

Hi all, 

Looking at a townhome (buy and hold) in floodzone AE near a river. 1 in 100 event looks like 6.7ft of flooding. The HOA covers flood insurance, so limited scope to check for elevation to remove from FEMA flood zone. Either way, it's in a low lying area. Good location, good house, and a good price for the area. Any and all thoughts are welcome and appreciated.