It may be possible to get the structure removed from the flood zone if the ground around the house is higher than the base flood elevation by filing an eLOMA with FEMA

I can see potential for profit but with elevated risk due to the common crime in the areas, especially to the east. 

So far I have 2 out of 8 who paid and those 2 usually paid last day of the month so normal so far.  2 out of my 8 tenants did not pay on-time for Apr due to job loss but was able to make it up by end of Apr due to unemployment checks and stimulus payment so by end of Apr I was at 100% (I waived all late fees like most LL's did).One 1 hand as more people filed for unemployment I expect worse non-payment #'s for May, but on the other hand elevated unemployment checks should be kicking in now for most folks so curious to see what happens for May.

We pay taxes on out income in the U.S.A. at the elevated rate.

They moved in a few days ago.I thought the experience was unusual because it looks like the rents SHOT UP.In fact, I firmly believe that it's true that rents for that particular apt in my buildings are much higher now in the Pandemic.I think this is that case because most of the buildings in NYC happen to be high rise buildings with Elevators.

Lori  its a two story A B class building elevator . no cars in parking lot save a few..

I think that factors such as short supply/ high demand, low interest rates, and asset price inflation due to the massive injection of liquidity into the capital markets will all keep property values elevated for the foreseeable future.

@Rebecca Six What is your opinion about Elevation?

I have a flat roof and I think that either gabled or elevated flat will be a solution.

Insurance is another one I unfortunately can't provide any insight on.Some other expenses you may need to factor in are landscaping and snow removal, or you can just lump this in with an elevated "repairs" line item.