I know it's gotta be fire rated like an stairwell or elevator shaft, but my local code office, always dysfunctional, changed to a perfect system (for them) where there's only voicemail and they never return calls.

Usually the tank is not the issue unless it has a crack or is otherwise broken.I assume it's not an elevated sand mound as those have only been around (in my area at least) for about 30 years.

With elevating PT, accumulating repairs etc your cashflow will become less and less attractive, until you decide to sell.

I eventually settled with an FHA insured loan at 30 years and let me tell you that those inspectors are picky.My home's first floor is under the base flood elevation.  

Elevations CU can be pretty flexible.

Asking price $87K, may offer $82K, 25% down ($20,500) 4% interest, 30 years.P&I: $294Tax: $137Insurance: $103HOA: $361....first red flag, it seems pretty high to me (it supposedly covers security, common areas, elevators, laundry rooms.Rent: $1300 (potential), second red flag because it's vacant at the moment.

You'd lend a friend who you've known for a year $20, but would you do the same for someone you just met on an elevator?

The worst thing you can do is elevate all the Doubting Thomases in your midst to positions of influence.

Can you get an elevation certificate to get it exempted from flood insurance?

Nobody in any state can do a full gut rehab for $20 per SF.I am closing on a single family home (elevated foundation) built in the 50's and it is a full gut plus roof, termite tenting, and the whole works.