Aiming for elevated rents in undervalued markets usually means high-interest rates on the originated loan (think 8.5% - 9.5%). 

In that time I have seen the same story play out time and time again, the "mirage" that if you make it nice, sec8 tenant will "appreciate" it and all will elevate, getto-gardens will flourish, hugging circles will replace drive-bys and all will be well.

That City in the Mountains has future of elevation laid out before it, keep Asheville top of mind, and soon it will be on the top of a lot of investors lists if it isn't already. 

Those that I have seen are usually advertised as short term rentals at considerably elevated rents, but how long are people interested in renting a furnished house like that versus having a blank slate?

There is the Berks County  Real Estate Meet Up group and the Elevate Investing Meet Up group.  

If you can not avoid the flood zone, discuss with your Architect/Engineer, what features or construction options that can lower the cost of the eventual flood policy (elevating the house, break away panels, etc.)

Pre-BUILDING STEPS- permission from the planning and zoning desk- topographic map from a civil engineer- Building plans and elevations from an architect - Site plans from Civil Engineer.

It could also be a pressure problem due to higher elevation from the source. 

build it the same on the upward slope as you do the downward. as a matter of fact, that would make an easy garage under it, just maybe an added cost of putting an elevator in for convenience. this way the house is also overlooking the one below.

Yeah, I seem to be having more luck in another market rather than FL since it's very elevated right now.