I hear so much about avoiding flood plains, but maybe that applies more to the long-term rental business.

Hi Bo,Best thing you can do is spend the $500 for a plain ticket, and $200 for a rental car to drive through the areas of Detroit.  

That's just plain silly.

the maps old and new can be found thru the fema.gov website. and if you own the property already if it is in new flood plain you can contest it. but that may require you have an elevation survey done.

But, you may be able to find a "risen" property even within a flood plain.

The government will bungle payouts as it did during the last flood disaster where some well connected flood plain dwellers received up to $3 million ( yes 3 m of tax payer money) to sell their ruined house to the province, and others fought to get enough to gut and redo a basement and the government tried to say they could only compensate for the lowest grade vinyl or laminate rather than the hardwood and granite that was destroyed.

If you haven’t had it for very long and your intent was just to flip it, then I believe it’s plain ol’ taxable income.

Hey @Yatin Gurjar. 1 - This is mortgage fraud plain and simple.

Start with something low risk and plain Jane and then you can move up to something else.

Plainly, 100% is doable, I've done that many times, but what you are doing makes a difference.