Under federal law, the purchase of flood insurance is mandatory for all federal or federally related financial assistance for the acquisition and/or construction of buildings in high-risk flood areas (Special Flood Hazard Areas or SFHAs).The amount of flood insurance coverage required by the Flood Disaster Protection Act of 1973, as amended by the National Flood Insurance Reform Act of 1994, is the lesser of the following: The maximum amount of NFIP coverage available for the particular property type,The outstanding principal balance of the loan, orThe insurable value of the structure.If the property is not in a high-risk area, but instead in a moderate- to low-risk area, federal law does not require flood insurance; however, a lender can still require it.

Greenville is in an area projected to grow moderately and less volatile so buy and hold could prove worthwhile.

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@Sepehr Khanbabaei I wouldn’t buy just because you’re legally able to do so, even if you could would you probably can’t the most circumstances but that’s OK it’s not a race it’s a marathon You’re probably gonna need two years of steady income (or a co sign) I would then look into find a Moderate to heavy Cashflow 4-Plex.

As rates rise, people will be able to afford less, but I see more moderate fluctuations in the market rather than severe swings or tons of foreclosures like before because the standards have been higher for years now and those loans should be more able to weather periods of decline.    

Here are the Big Six (6) reasons people abandon houses: 1) Skipped town 2) Substance abuse (drugs and alcohol) 3) Incarceration 4) Severe mental and emotional problems 5) Senility (senior may be residing in nearby facility) 6) Deceased The first thing I want to do when encountering an unoccupied property is to determine if it's an "orphan" or not.

I occasionally get the "ew's" when I have decided to go one more tenant before replacing carpets, but they are cleaned even if they do show moderate wear.

Spray paint bathtub $250 ones everything is finishedPaint one room with moderate preparation 12X9 room.

Otherwise I pretty much break even with what I feel are moderately conservative estimates on vacancy, maintenance, etc.  

For a free service, no strings attached, go to [edited by moderator]Good Luck