if NJ is too expensive, go an hour or two out. 

Buying a turn key rental, in an area you know or knew well, with a property manager you've met and trust, in an area that is large enough for you to have other options to find contractors and property managers? 

But if you did the property up right with killer design and great amenities -- I'm picturing cool wallpaper, a game room, boho/modern furniture and a hot tub -- I can see a place here doing well as an affordable Airbnb/STR option just 10 minutes to downtown Denver.

I am under contract to buy and flip a house that I am paying $615K for. 

If it were to go to foreclosure would it go for $180k?

I know several investors that are struggling to keep their short and mid term rentals going.

Quote from @Samuel Pavlovcik: @Nicolas Tow Your Architect is correct that it sounds like the only option for you would be to obtain a Zoning Map Amendment to change to RT3.5 or higher.

Quote from @Brett Riemensnider: Wish I didn’t have to post this but I am torn on what to do.

Welcome to BiggerPockets, Sam!

- Not Required for FEMA Pricing: Homeowners are no longer required to provide an elevation certificate to get flood insurance through the NFIP.- Optional Benefit: If you believe an elevation certificate shows your property is at a lower risk than FEMA's assessment, you can submit one to potentially lower your premium.