Location is the most important factor when selecting a property.

Its hard to give any estimate as there are different rating factors for each company and for each state.Even though it is not built you can still get some quotes worked up.

However to get the REAL APR you should factor in the origination points and fees.

Every home listed in a flood zone in my area has been on the market forever, no one wants to pay that kind of money (more like $2800 annually here).

However, based on your response I'm thinking that's a pretty poor idea.Based on your experience, how would you factor additional CapEx, capital reserves, and turnover? 

It's come a long way and it's still coming.Once you factor in local external influencers as well such as the Chula Vista Bayfront development (which is actually making good progress in the approval process),  I would argue that IB will only grow in demand. 

What factors did you think about when you decided where to buy?

It was easy to find a house I wanted to renovate and live in because I didn't have to factor in the closing costs at resale when I was making a decision but now that I want to do this for a profit I have not been able to find a property on the MLS that is priced low enough to make sense for a flip.

@Lawrence Eiseman There are many factors to consider: Are you buying the land to hold, flip, lease or build also what's you're risk tolerance.

I settled on a price factoring in the seller paid closing costs.