It's not like people won't know that the property isn't in a flood zone; if they finance it through traditional financing then the lender would most likely require that they carry flood insurance. 

most likely its a scam .. 

It sounds like there is some scale in the deal for a fix and flip, but you would surely be way out ahead of your skis to do that based on what you said.

With your past experience and a clear goal of building a portfolio in Houston, you’re already well on your way.

You will need to completely cover all new flooring for protection as well. 

Likely just light cosmetic, fix ups, bath and kitchen remodel, landscaping. 

Sounds like there is some updates that can be made, but nothing immediately needed.  

It will likely take about 75kish for me to build this next ADU.

Happy to help if you'd ever like to jump on a call.

You can also do small changes, like going from a multi-family to a couple SFRs, or industrial to office.