(but not zoned for) Property is currently offered at 750k , a property right beside almost identical was sold for 725k on conventional mortgage and it was initially offered for 769k. (5.72% decreased on a conventional mortgage that took almost 4 weeks from pending to sold).So based on this data I have estimated(not exact science) that I could give a lowball cash offer for 550k(maybe w/ some luck) but with some room to go up to 635K (which is a 14% decrease on the listing price and hoping to close fast with a cash offer) 70% of $900k is only $630k, which would be the max you could refi. 

So yes, typically you will need all plans signed off on by a P.E.The third common component is a study showing that the additional fill placed in the flood zone by your planned building will not significantly decrease the water holding volume of the floodplain (in addition with other permitted or built fills in the same basin).

What happens if your property didn't increase in value or it decreased?

Today, most rent in less than one week.During the 2008 crash, zero decrease in rent and zero vacancies.

From personal experience owning rentals in the area, once you get south of 38th St the number of multifamily units decreases by a fair amount - more single family = more homeowners = better neighborhoods in general.

@Brian Plajer the reason I ask is because if cash flow decreasing is not an issue as it would with a cash out refinance as your PITI payment would go up, I actually did both maneuvers on my primary.

This is a decrease to your cash proceeds.

If no to both, your losses from this rental wouldn’t help decrease your taxes anyway.If tax mitigation is your goal, your real estate investments has to be planned in such a way that these goals are achieved, to the extent possible. 

@Carlos LopezIf you feel like the value of the property can increase from now, hold onto it.If you feel like the value of the property will decrease, you may want to consider selling it.

The reason for this is when you give instructions you stop people's potential to grow because they don't exercise the muscle needed for people to think for themselves .One of the most difficult things to do as a leader is is to stop yourself from giving solutions whenever your team has a question or problem.