As higher interest rates keep deal underwriting difficult, the bid-ask spread continues to be elevated.

As you stated, properly is the best right now, but does have its bugs which is why I was trying to elevate a little beyond it, I appreciate the response!

There is elevated risk here. 

The pumps do not run continuously, only when the sump water level gets elevated - so not an electricity hog.

Seems like that's not an emergency today,But that depends where you are, it can be an emergency that has economic impacts.Banks generally don't have issues with issues that won't impede collateral values over the term of financing, so you're looking at 30 years.My more immediate concern is that if I were buy property to be held for future generations, my great grandkids, I'll look to the elevation and location, I doubt people will be born with gills in a hundred years.That means I'd not be buying in Miami, D.C., Lower Manhattan, or costal inlands.Before my properties are at risk, the State of Arkansas will have beachfront property. :)

The house will be new construction and elevated about 10 feet to get more favorable flood insurance treatment. 

Some may take the elevator, and some may have to take the stairs.

I told him that the houses doesn't have an elevator, swimming pool, sauna, bowling alley, or guest house either.

Condos cashflow well in my area even after hoa fees especially the low rise buildings (no elevator, etc.). 

If the elevation drops another 30 feet, the efficiency of the Hoover Dam is brought into question.