I could regurgitate the "theory" of wholesaling but I was not a wholesaler.

That article is "creatively regurgitating" data from it's source.September had unusually few foreclosures, being the month with the fewest foreclosures in 129 months (over a decade!).

So if it is just regurgitated common knowledge as your inferring, why is it so uncommonly known? 

Listening to a guru is fine to a point, they only want to sell information so when they start talking like that, leave....Most of them don't invest successfully which is why they are selling and regurgitating info.

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the negative I was hearing was mainly people that knew nothing about the area or knew it years ago, regurgitating their outdated perceptions.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.