I'm looking at a property for a potential buy and hold that's currently in a 100yr flood plain, but it will be converted into a 25 year flood plain under the new Atlas 14 changes. 

You've read government statutes before...they're never written in plain language. 

Applicant 1: Flaky, plain and simple. 

Also in a good area like Bergen/Scotch Plains etc. if you buy at a good price, you will likely buy into equity and the PMI will be a brief inconvenience.

Or, maybe I just plain plan to default and walk away rather than paying you the $250K. 

The answer to all problems, are usually right in the problem...hidden in plain sight.

I got to 1000+ units but he got to 4000+ and sold all of them, took a *SICK* amount of cash and moved to Boston. 

I used to live in White Plains. 

People don't usually put up a "Beware of Dog" sign for no reason...they either think there's a potential for a bite - thinking that posting a sign will ease their liability in case of a bite, or animal control has mandated they must have the sign up (usually more than 1 though - here in Wilmington, you must have 4 in plain view) in the case of an animal being deemed potentially dangerous....also they told you outright they are planning on breaking your lease by half a year....may want to get the ball rolling on these folks.  

Plain and simple.  2.