Last week I decided that the time had come to “go live” and now I formally introduce myself to this incredible community.

Tomorrow we will formalize/finalize these points with our attorney. 

or should I setup a more formal bidding process?

I agree, I always try to look put together, but not too formal.

Thank you BP for creating the forum to network and develop relationships, plus the opportunity to formally introduce myself.

Account Closed Obviously I am not you and we have different situations and risk tolerance etc etc.That formality aside let me lay down what I would do.

I just checked all my properties against the latest FEMA flood maps here:https://msc.fema.gov/portalNow sometimes your county may also have a layer of this in their GIS system.In any case I noticed three of my properties seem to lay inside ZONE X (which is lower risk) then previously ZONED AE.Down here insurance is expensive, we got liability, windstorm and flood and just flood on one subject property is $1500-$2500.I am guessing I can't just call up my insurance agent and say check out this web site...so I need to obtain an updated elevation certificate just from the map being rezoned by FEMA.For ZONE X I actually am not required to carry Flood but I guess I still will just for the peace of mind especially if the new rate is lowered.Anyone else been through this, would appreciate if you know of a way to get a formal rezone for a specific address that you can use for insurance instead of another elevation certificate which requires a new survey I believe.

Yes @Pavel Sakurets but being rather new in investing, you'll find that you don't use everything you know everyday, it's when you come across some opportunity and then you recognize the opportunity because of what you know and if you don't know, you'll never know what the opportunity was, it won't even dawn on you, you won't have a clue.There will always be the lazy, the foolish, the ambitious, the cocky and the egotistical who ignore all the formal education in some area thinking they are the exception and that they don't need to be truly educated, their smart enough to figure everything out.But, you're right, you do have to apply what you know. :)   

I have never heard anyone say " I have too much formal education." 

Partnering, formally or informally with a GC having them finance materials and labor to the end eliminates the need to finance the rehab, simply contract on a turn-key basis.Don't forget government as a financing source, economic development loans, tax abatements and bond financing can be used in connection with private funding.