Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

I see a ton of posting about unrelated information. 

Do they use pen and paper to record this information or do they have some sort of software to manage it? 

With that information, you can start to get good at estimating the rehab budget.  

Lots of information and great connections here. 

I would connect with a local PM who has connections with the HUD programs so you can get the most accurate information and guidance in your market. 

Thank you for the information!

Welcome to the community and be ready for a huge amount of information at your finger tips.

Phoenix is a great market for STR's with the great weather and the amount of concerts, sporting events, etc that take place here.

Would appreciate any updated information if you would be willing to add to your above post.Thanks again.