Larger real estate firms will have in-house legal departments to handle this but the truth of the matter is the actual concept and procedures are quite simple once understood and all real estate owners  would benefit from this but fail to implement the systems early on.

The procedure to build in the floodplain varies based on the jurisdiction.  

Should I wait to begin renovating until I am near the end of the action to quiet title procedure or would it be fine to begin work immediately?

In my case, at the end of their lease when I wanted to show the property to prospective long term tenants, the tenant gave me all kinds of grief about 'invading her privacy' and 'disrupting her life' even though I told her at the beginning of the lease that this was our procedure and I made every attempt to 1) give 48 hr lead times, when typically I would only give 24, and 2) blocked/scheduled showings for 1 day per week and 1 weekend day away from dinner time/church times, etc. maybe this was just the person I was dealing with though...- vet the tenant exactly as you would for a normal tenant.

Go with he/ she to.show houses, filling out the offer, and making all the procedures to closing .Get your hands wet ,  experience               .

Definitely a less stressful way to do it the way you're describing, but I would say that 0 down time is a pretty ordinary procedure / SOP, unless a unit is getting significant renovations.

Not sure if that is allowed or what the procedure looks like. 

It may play out well for you, but the details are tricky, and the adjustment procedure is complicated.

I do not know the law or the local eviction procedures in Provo, Utah.

Yeah..ok...And all teachers should have kids first...All doctors should have lots of medical issues before they can practice....All dentists should have lot of dental issues before they can practice...Every waiter should owner a restaurant before they can wait tables....Every car salesman should have bought multiple new cars before selling any....I get your point..... it would be great if every realtor had to have real life home ownership under their belt, so they have that BTDT experience..... but not gonna happen