@Benjamin Bochman you may have heard and understood the logic in:An Ounce of Prevention is worth a Pound of Cure.Well I think:An Ounce of Doing is worth Ten Pounds of Studying!

You might enjoy it: How to Buy a Small MultiFamily Property: A Step by Step Case Study

Rents sound a little high for SE so doing a rent study for the neighborhood should definitely be part of the due diligence.

@Marshall Downs I love to evict this guy, but it's always difficult to prove in court unless the evidence is obvious.

I am considering taking the next 6-12 months to just study the my area to determine what properties are selling, for how much, and how long they are taking to sell.

All state requirements are different there should be a reserve study.

If your building may not be that bad, you might be able to either: 1) Pull it out of the map completely or 2) Get an elevation study to lower your premium.I was getting a survey for another closing and the engineering company asked me if I had any houses in a flood plain because they have a service to try to do just those options.I paid $750 for the first phase and they were actually able to pull my house out of the flood plain.

Once I do the studying and passing the exam, how do I find a broker that will let me hang my licence with them?

If you want to rehab and flip properties, your knowledge of the rehab process will definitely help.But in addition to that you'll need to focus your study on:1.

You don't have it unless you can prove it.With a 3.5 down on 150,000 you are in for ~$7 or $8k for the property.