I am looking at buying homes to rent with minimal to moderate rehab needed depending on the price.  

I do have a moderate amount of web experience.  

It will only be to secure properties (paper) and then either buyers for a quick profit or our investment partners (which we've already secured) at 1 - 3% interest per month plus closing costs depending on the type of loan needed for a rehab...Transitional Funding - small closing costs plus 3%Cosmetic Rehabs - moderate closing costs plus 3% and 80% load to valueMajor Rehabs - small closing costs plus 1 - 3% depending on size of loan and 80% loan to valueOr a cash out refi against non-owner occupied property owned free and clear up to 50% loan to value.So you can see, we have some things in place and ready to get our first property under contract (the right property) and either wholesale it or rehab it depending on location and whether we want to rehab it or not.

I would not suggest it to a newbie,  however, many seasoned investors acquire single family homes in low to moderate income areas.  

I am interested in, however it's current flood zone status is what is holding me back and probably plenty of other people back as well..Just curious has anyone ever gone throught FEMA for a LOMA (Letter of map amendment) This entails getting a elevation certificate as well to see the lowest point of the property in relation to base flood elevation.Property sits in an AE zone but the line for the X zone (low to moderate risk) runs directly down property line so it is on border.

In moderate climates it doesn't matter, but it costs more to put plumbing on exterior walls in cold climates.

Moderators, can you please delete the above reply, I was trying to figure out how qouting works on this forum.

I work as a credit counselor in the bay area and help folks with credit/debt issues. thank you to all for the valuable tips and to the moderator of this site

(Unless of course there is an ongoing alcohol problem, but that doesn't sound like it's the case)

Big money maker and you can live there for free and moderate the Animal House.You might have some difficulty getting a bank mortgage, but you could either search for seller financing or get a credit worthy co-signer, someone who loves you and maybe gave birth to you?