I usually tell my investor clients that if the building itself will be in a flood zone (not just parts of the lot), it's not worth the investment unless it's a steal and you're able to pay off any mortgage easily if flood rates rise ridiculously (and you can afford to pay for any flood damage, yourself). 

However, when my program ends in roughly 4 to 5 years, I plan on moving back in with my parents (in the Dallas-Fort Worth area) and saving to buy my own place.

You need to have good margins otherwise it's not worth investing in the deal. 

What’s your time worth?

It's worth a discussion. 

I disagree.The future and what tomorrow will bring is unpredictable.The numbers of a deal TODAY don't lie and are actual.If net cashflow is higher than expenses and if that net cashflow on each deal get's you a step closer to financial freedom, than the investment is worth it.Appreciation is speculation and is just the cherry on top if/when it happens.Just my opinion.Thanks 

I've already done quite a bit of research in my area and can already pretty much tell you what a property is worth or at least generally what it will sell for as I spend about 3 hours a day looking at properties and have been doing that for about a year to make sure I'm prepared on the accuracy side of things.I do have a family member that is a real estate agent in the area, but I'm not sure if a standard single family residential agent is the correct connection for multifamily.

Our primary residence along with our vacation home is worth about $1.4 million, have a million in stocks etc.. credit score is 700+  How the heck do we get qualified for a loan? 

If you intend to have it managed after purchasing, reach out to a couple STR property managers and have them offer their perspective on what's worth fixing, what amenities you need, and how much they would rent it for.

They are 2 bedrooms units though and typically does attract different tenants than 1 bedroom units do.