Typically it is the local building and zoning with a similar rule, repairs of more than 50% are not prohibited, But if the rebuild/renovation cost is more than 50% of the property value then the property must be brought to Current building codes, which may include the floor elevation being raised to current building requirements, which is usually not feasible, cost wise.

Which elevator pitch would make you want to join the business as an investor?! 

Adding crisp white towels, a decorative soap dish and small potted plant on a window sill is a expensive way to elevate a bathroom.

The owners of the other adjacent home have been on an extended vacation (and have left their air conditioning set to 85 Fahrenheit).A few weeks ago, my tenants called me saying that their AC can't maintain setpoint--I assured them that this is normal as both demising walls are currently exposed to elevated temperatures.

A lot of investors are having a tough time with appreciation plays penciling out right now because (1) they feel that prices are elevated (2) their prediction for future appreciation is not as high or as predictable as it has been for them in the past and (3) the cash flow is low.Real estate is local though and there are opportunities at every point in the cycle (#7 above). 

Low taxesMost of the houses are being renovated / elevated (from Hurricane Sandy.) = low flood insurance2 minutes away from the booming Long BeachThoughts?

(2) If the market decides to take the elevator down, what would I do?

(i) Ventilating, air-conditioning and other facilities and appliances, including elevators, maintained in good repair if supplied or required to be supplied by the landlord.2.

To close, We use Elevated Title in Draper to close our deals; flips and wholesales.

Lenders do not require flood insurance purchase.Area is higher than base flood elevation."