And you spend all that money on updating it will be for not.

I would like to put the money into purchasing another investment property.

So you use hard money or cash, fix it, resell it...and try to resale fast. 

If I need by some chance I need extra money I can fund it with money from my side business.

I work for a hard money lender called Backflip and we have members/investors do flips in flood zones all the time.

If you have been to these towns, they are good examples but very difficult to enter and make money from. 

Cash flow is defined as the money left over after paying for all expenses, including setting aside a certain amount to cover projected expenses like maintenance, vacancies, or capital expenditures.EXAMPLE:Property Price: $250,000Down Payment (25%): $62,500Loan Amount: $187,500Interest Rate: 6.5%Loan Term: 30 yearsMonthly Mortgage Payment: $1,185Monthly ExpensesMortgage Payment: $1,185Property Taxes: $250Insurance: $100Maintenance (10% of rent): $250Vacancy and CapEx (20% of rent): $500Rental IncomeMonthly Rent: $2,500Total Expenses: $2,285Cash FlowNet Cash Flow: $215 per month 💰However, there are many other factors to consider.

The intention is to minimize errors and thus save developers money.

I'm a part-time CFO (Chief Financial Officer) for real estate developers across the country, most of whom are trying to give back to their communities through their real estate development skills.I'm also a former Director of Lending for a CDFI that lent money to local developers rebuilding LMI and under invested communities. 

They saved up money.