My question or caution would be to investigate if the property is in a flood zone.

This is the most insane and offensive post I've ever seen on BP.Hope you enjoy your time on your local TV stations investigative reports of the landlord who discriminates on weight.

Obviously they could be wrong, and will investigate it further. 

Anything else would require significant investigation to figure out how to do the loan.

I thought of getting a CCIM designation but what stopped me is that I would need 20 deals or so in Commercial to become  CCIM certfied ( at least that is what I read 1 year ago ) -     Anyway I will keep on investigating on search for commercial properties.   

Investigate more to get a better feel for what it is that flipping in your community will be like.

I would definitely investigate what is the likely effort needed to subdivide. 

I am currently investigating the markets in Tampa and Jacksonville.

I kind of doubt they will be unable to secure insurance or financing, but it's definitely worth investigating the potential implications before laying cash on the table (or lock it in with a due diligence contingency for this matter). 

However, it is a C, C- neighborhood, with and unusually low rent roll (and, as I investigate Craigslist, Zillow, and apartments.com, the competition seems to have rents that aren't much higher).