Just thank people for posting a reply and regurgitating what your intensions are and how the rei can help you.

I agree that it makes sense to have it as a precaution, I guess my hesitation comes from other appraisals we have gotten (while doing bank financing) that used terrible comps and regurgitated census bureau info for an area far too general to be of any value, and ended up just coming in at the purchase price anyways.

I feel like all they do is regurgitate the same information to every customer.

Once I took the time to find out what was happening in the area and where it was headed, I spent some time there and realized the negative I was hearing was mainly people that knew nothing about the area or knew it years ago, regurgitating their outdated perceptions.

Scott, it might be a case of "the early birds caught all the 70% worms", knowing that the late-risers such as yourself will pay them 80% to regurgitate those worms!

OF course the guru's hammer on it. and many on BP just regurgitate it.

I am by no means an expert on this and am simply regurgitating experiences of other investors I have worked with, but in this scenario the dwelling itself would not be treated as having been in the floodplain. 

@Mark De sagun Eagledale is an area that gets regurgitated every 3 years.

This is a common misconception and the bad information continues to be regurgitated throughout our industry.

@Anthony SmokeYou've got some good answers already so I won't regurgitate, just wanted to add that questions like this are plan specific so it is best in the future to contact your plan document provider who can provide you more accurate guidance based on the features your plan has.