It removes the flood designation.This results in eliminating any lender mandates to purchase flood, and it enables the owner to have choices. 

Learning to pool your own funds and procure cheaper debt are good things IMO.

Termination Fee: If Owner terminates this Agreement, Broker shall receive his commission for the unexpired terms or renewals thereof, of any Lease made by Broker and/or Owner during the term of this Agreement and shall receive such commission for as long as any tenants procured by Broker occupies, rents or leases the Property.

I procured a 3rd Party Private FinancierHow did you add value to the deal?

I then realized why the seller was so quick to cancel my contract when, to the letter of the contract, I didnt secure financing in a timely manner.I learned many things, here are a few:- Just because I'm an ideal borrow for a SFH, primary residence, loan>$100k doesnt mean financing will be a cakewalk for another kind of property- Had I been able to procure the cash in a timely manner to purchase the entire property, I could have retained the deal and figured out the money later.

What this demonstrates is that Americans have adapted to housing prices by altering the arrangements by which they procure shelter.

But your contract needs to provide other 'outs' such as inability to procure suitable funding. 

Almost all of our deals are procured direct from the seller and our returns are usually 9CAP or better.  

I have worked with several out of country investors in finding and procuring properties.  

This feature makes it particularly attractive since it enables you to acquire a home without a down payment.