Might start getting "spot elevations" by a surveyor at the corners of the improvements to avoid the issue if you are a foot or more higher than the 100 year flood plain mark.

What other things would you recommend I do to start on the right foot

I've looked at $35k duplexes in nice blue-collar areas with almost no work to be done (plus surprises, of course).Having said that, most of those properties should cash-slow pretty nicely, despite the required investments to fix up.I have seen some bad foundations, such as basement walls caving in a foot or more on three walls.

He reroofed my friend's roof for only $2500 (for a 960 square foot roof area), and pulled the permit, so he is licensed.I've had a roof repair done in the past on a different house, but never the entire roof.

The tax-credit allowed the welfare mentality to fester amongst those in that industry- when "the government" is footing 30% of the bill, pricing gets inflated.

For instant in Palo Alto where most of the big name Social Media Companies are located like Facebook SFR's are selling for $1,000 bucks a foot!!!

The underside of the pier and beam house had more than a foot of water in places.

Just don't like paying additional (in addition to the quarterly) for a vacant lot, where I don't even step foot.

During closing the inspection came back with the following issues; related to the heater (3 years old, newer and running but HVAC guy going on Monday to try to figure out issue with it not heating correctly), electric (Zinsco, Electrician said should be fine but will give quote to fully test it), chimney (cracks in base of chimney on inside inspector said could just be from regular use, deciding whether to pay for additional chimney inspector), roof is less than 5 years old but does have some shingles that are raised, insulation is missing from the upstairs and insulation was installed upside down in the basement, other issues (toilets, fronts steps work not done correctly to code, tilework in shower, water shut off not in good location, etc.) and finally the upstairs has some structural issues with the upstairs sloping slightly downwards (only notice it in a 3 foot width) near the windows on the chimney side (I am waiting for the structural engineer report which I should get on Monday).

Nearest gas main was over one block away; gas company said the cost to run the line would be between $100 and $125 per foot of line.