So I hopped on BP and searched "lead propeller" thinking I would see DOZENS of threads - but I got a big fat goose egg. 

Don't let your money burn waiting on the sidelines. 

If you have cash you want to burn and can accept that you may end up loosing money on the flip.

The people who got burned were forced to sell during the last recession. 

Too many sellers get burned by people coming back and wanting to crack the contract open and want a concession over something they saw in the basement (while supposedly "just checking the measurements on the upstairs bedroom").So you can go in no inspection then try and call to schedule one, only to find out that if you step foot on the property you are trespassing.Just my 2 cents

Yes, a win for them if the deal goes well, a loss for them if the deal crashes and burns even if no fault of their own. 

Either way, watch the cycle and make a 10 year plan or you can burned either way by a downturn.

Although I'm not afraid of taking risks (I do run into burning buildings, after all), they're usually taken with a lot of education, experience, and forethought.I do have a friend in the fire department who has been successful with wholesaling, flipping, and I believe rentals, too, in the Baltimore region. 

I'd burn the place to the foundation 

Separate issue though...unless there a way to argue with the lender that flood insurance is not needed...fat chance i assume.Any thoughts?