You know you're in deep when everything makes you think of real estate. 

Originally posted by @Lacy Goldman:  We've purchased HUD homes & sold them to investors using the following methods:Purchased the property outright, held it, then sold it- Not optimum because of closing costs but if purchased @ a deep enough discount it worksPut the property under contract in an LLC, then sold the LLC- Again not optimum because of costs to establish an LLC & the subsequent paperwork.  

Trying to hold high end rentals will need deep pockets.

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.

I was impressed - and relieved. 

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.