I currently broker LIHTC multi-family for a large firm coast to coast and am also interested in MF in the Arizona submarkets as well, and will eventually invest on that scale - I just figure breaking into the state through SFH flips may be a more risk adverse way to understand the pros and cons to phoenix submarkets.

Hey Chris, welcome to the Valley.. and what a leap you’ve made, going from the East Coast’s fast pace to the wide-open spaces of Gilbert and Phoenix!

I am located in Western, North Carolina, right outside of Asheville.

With Risk Rating 2.0, FEMA looks at several factors to assess a property's real flood risk.Key Factors Considered- Property Location: How close the property is to water sources (rivers, lakes, coasts).- Flood Frequency: How often the area floods historically.- Types of Floods: Includes heavy rainfall, storm surges, and river overflow.- Elevation and Distance from Water: Higher and farther properties generally face lower risk.- Rebuilding Costs: Higher-value homes may have higher premiums due to more expensive repairs.What This Means for Homeowners- Fairer Premiums: Properties with lower risk may see lower premiums, while higher-risk properties may face increased costs.- Gradual Rate Increases: Increases are phased in over time for policyholders who see higher premiums, with annual caps on the rate hike.- More Predictable Rates: Rates better reflect the real risk rather than just being based on a flood zone map.Example Scenario (Simplified)- Old System: A house in a designated flood zone pays $1,000 annually, regardless of its elevation or distance from the water.- Risk Rating 2.0: That same house may now pay $1,200 if it's closer to the water and more vulnerable or $800 if it's higher up and better protected.Flood zones still matter under Risk Rating 2.0, but their role has changed. 

I live on the east coast.

Yes, Reno, NV (click on the first link) and a lot of other areas on the West Coast. 

Once you have perfected the model, then do San Diego, LA, San Franciso, Portland, Seattle; then switch to the East Coast. 

But your right in our west coast mountain west this is a fantasy..  

Municipalities changing ordinances has been problematic for STR investors, something that has transpired in my beachside location of Florida's Space Coast.

(I currently live in south MS, so the Gulf Coast is where I am looking)3.