I've been in Indy since April and have learned a tremendous amount. 

Am I crazy to accept a little lower CoC in order to get into the area which I believe has tremendous momentum and growth for the foreseeable future?

Interest rates shouldn't vary tremendously from Lender to Lender. 3.

I agree with @Dan Barli, both of those books by @Brandon Turner and @Scott Trench are excellent and have helped me tremendously.

So the concern is, if someone can qualify for the 200K+ property (ARV) can they also afford the 200/ mo  mandatory flood insurance which is guaranteed to escalate..  

Can you help us escalate this @Mindy Jensen?

But I can tell you he's lost about $200k in commissions as I don't deal with him and have bought a tremendous amount since.  

There are tremendous resources on this site for you to use.Attend local REIA meetings and connect with like-minded investors: https://www.biggerpockets.com/forums/521-events-and-happeningsRead the Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingListen to the BP Podcasts:https://www.biggerpockets.com/podcast

In addition we belong to our state LL association, they have been a tremendous help and fun networking too.

I would recommend you make the offer YOU are comfortable making, and instruct your agent to add an escalation clause up to an amount YOU are comfortable spending, including higher than asking price.