This is all assuming you should use my favored strategy of holding property and using cash-out proceeds to purchase your next one.

If insurance companies would give a discount for having it, everybody would buy it.   

Otherwise I have a growing network of Realtors across the country that specialize in this lucrative cash flowing strategy! 

We have a few clients using AI for other industries such as mortgage, insurance and home services as well. 

So strategy is buy, rent out rent it out, and sell 3-5 years down the line.

Please learn about flood and property insurance and get quotes before you make offers, or at least during due diligence. 

Then it is important to know what is your investment strategy, risk tolerance, and time that you are going to dedicate in the game.

unless you have some kind of advantage, or creative strategy, or both (boots on the ground, sourcing quality off market deals, MTR or STR, house hacking, etc.) there is really no market where you can get a few hundred plus in cash flow with current off the shelf rates.you should 10000000000000000000% not buy a random property in Memphis because an Excel sheet tells you you will make $212 a month on it.if you want to go to Memphis and spend a few weeks there, drive around, meet PMs and other investors, and really lean in - go for it. 

And HOA insurance coverage is very minimal so if something does happen, HOA likely won't be able to pay for much.  

Any investors here have experience doing this and/or have referrals of real estate attorneys and title companies familiar with this strategy?