This might sound like playing hard ball, but you need to cover your butt and do things by the letter of the law.

It's not a horrible investment play, leaving the basement unfinished, because you buy a house at a discount in a flood zone, but it rents are market because there is no downgrade to the tenant on the quality of the rental because it's in flood zone.

Play around with the numbers in the calculator (purchase price, interest rate, down payment, etc) until you start to see the trends in how each number impacts the deal.

As others have mentioned investing back in the Triad could be a good play but of course small MF properties are tough to come by. 

How did it play out?  

Unless you are looking at an appreciation play where you fix up the house while you are living in it, 3% CoC is not a great deal. 

I would then take that profit when available convert it into $USDT and play a 100x futures bet short or long ( most likely long) to return 4.8% profit per twenty-five dollars of movement.

College students don't demand high end finishes, so there may be no value add play on this property. 

This how a typical private lender might loan on your deal:$100K ARV$50K PP (let's assume seller is playing closing costs)Lender will only loan $65K. 

Your income will go a long way for you with your buying power when qualifying for your FHA loans.With closing costs and everything, if its not a major fixer, 75k is probably a safe budget to play with.