I am in the middle of a deep rehab on another property; 2 SF vacancies + getting into a new deal might stretch things a out of my comfort zone.

@Abe Alam  AE 4 means that the 100 year flood is expected to be 4 feet deep at that location. 

Before I get waist deep into something that will never work I wanted to get some thoughts and critiques.

Hi Dhvaya,So, lets break this sandcastle question into some grains of sand, with some statements.[1] LVP does not like water (most of it--but not all).[2] LVP damage seems to mostly come from scratches, deep ones and light ones.

If you were my younger brother, I would say get married, move to a more affordable market, learn that market, and by then we should be deep into a depression, so deals will be more available.

Do you pore over the financial statements of that company and dig deep into everything?

There is no guarantee that the building will turn market and should you want to evict a tenant, it can take up to a year under normal circumstances; with COVID, it looks closer to 1.5 years+.Unless you have really deep pockets, like Uncle Scrooge McDuck pockets, hard pass.

Will also see how far I go with getting an elevation certificate and diving deep into this rabbit hole. 

How deep does it typically get?  

You're probably looking at a Class D property which will be very challenging to manage and make money on.The critical question to ask the seller is how much is it going to cost to rehab it so it passes City inspections.Recommend you search BiggerPockets for our Deep Dive series on Metro Detroit Ring Cities and city of Detroit neighborhoods.