We are wondering if there are any particular cities or town to begin looking for fix & flip deals.

Any suggestions would be appreciated!

Once you know the reason(s), for the flooding, then you'll be able to figure out a solution.I'd also strongly suggest that you don't re-finish the basement until you've determined the cause of the flooding and fixed the problem (last thing you want is to re-finish the basement, and have it all ruined again by another flood).I'd suggest first watching some videos on youtube on flooding, drainage, groundwater, french drains, sump systems, water catchment systems, etc, just to give you a better understanding on what can cause flooding, and what types of fixes might work. 

If you have any suggestions I would really appreciate it!

I'm sure that's why your brokerage is suggesting it.

What I suggest you do is something I recommend to most newbies, especially young men.  

So if you're going full hands on and operating something yourself then I'd suggest something within 20 min from where you live. 

Any input, ideas or suggestions on how to get going?

We have a few options to fund this, I was wondering what would be the best option and why?

Thank you for the suggestion.