He has worked in construction for quite some time now and claims he knows the required parties.As far as I know he will not be getting financing from the bank, so that elevates the GC issues but leaves us with the whole process!

My properties are cash flowing very well right now and am nervous to lose that unless it makes sense for bigger picture or to elevate my entire portfolio. 

But this assumes mortgage rates stay elevated through this time period and I have no ability to refinance.

If your rehab is more than 50% of the assessed value, you need to raise the property to above the Base Flood Elevation.

Reach out to a local contractor with your basic plan and elevations and ask how much per square foot and timeline they currently have.

I personally don't have any flood insurance (we just self insure there), but if you'd like to get some, that'll really depend on your flood zone and elevation certificate. 

Therefore, 10-year financial projections such as the plan you've created should factor in elevated interest rates in the future; this is subject to a wide margin of error as nobody can project what will occur with interest rates with any precision. 

First Bank and Elevations Credit Unions definitely both do portfolio loans, although I had heard that Elevations is tightening their criteria.Bank of the West also does them occasionally as well.

Tenants left this stain on an elevated trex deck. 

Inspector's opinion is that foundation showing signs of movement that exceeds normal tolerances and changes in floor elevation of house greater than would normally be expected.Not only does that sound like a red flag to me, but also the following::- Soil levels against exterior grade beam appear to be too low- interior sheetrock cracks and/or stress indicators (multiple areas photographed; about 20)- floor slopes and/or unlevel areas (bathrooms, living space)- misalignment of exterior doors due to foundation movement (very obvious)- deflection cracks in exterior veneer (a few I wouldn't be too concerned, but there are pictures of about 20 areas that show more than a hand's width of defect with signs of poor "band-aid" repair)Not sure if I can post pictures but figured the description is enough to determine yes or no.Is this a good or bad investment stepping into?