However, once converted to personal use, you can no longer claim depreciation, and the accumulated depreciation will reduce your adjusted basis, increasing your potential taxable gain upon sale.

Great questions—buying in an AE flood zone definitely comes with risks, but it can also be an opportunity if you analyze the numbers, insurance costs, and future resale potential carefully.

While that would be nice to build up a lot of money and save, however that would just push me back even further from starting my real estate future plans, careers, family, etc.

With that much equity, you should compare rates with a conventional loan (no PMI but potentially higher interest rate) to see if the difference in rate would make sense vs the G-fee.

I would be happy to help you explore first-time buyer programs and financing options to make your purchase smoother and set you up for your future rental plans.

I'm interested in investing in multi unit properties and potentially get into house hacking.

But with more it could probably be apraised for 500k ARV or more.Also the house has a lot of rental income potential aswell.

We love helping sellers around the country connect with investor buyers and potentially retail buyers with the goal of creating win-win-win scenarios.

I am particularly concened about the water meters not being hooked up and potential charges there. 

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not.