If you're having trouble following it (as it is typically full of legal jargon), consider hiring an attorney to explain to you what it entails. 

I understand specifically what it entails: 1.

My business entails finding off market deals to flip or wholesale.

Law says that fine must be "reasonable," but I don't know what that could entail. 

My services would entail posting tenant notices, going to court, dealing with municipalities, etc...

What does that loan program entail?

That usually entails replacing carpeting, door casing and trim and window blinds at he minimum. 

Permitting it will entail removing the drywall and possibly insulation so the inspector can make sure the all the utilities (electrical, plumbing, hvac) are installed properly (per code).

I'd need to really study up on exactly what this approach might entail. 

I am interested in, however it's current flood zone status is what is holding me back and probably plenty of other people back as well..Just curious has anyone ever gone throught FEMA for a LOMA (Letter of map amendment) This entails getting a elevation certificate as well to see the lowest point of the property in relation to base flood elevation.Property sits in an AE zone but the line for the X zone (low to moderate risk) runs directly down property line so it is on border.