Where are you located?

Not sure where it is located but maybe your first step is to try and sell the lot to someone else?

But the hardest thing to do is sell to an end buyer/occupant, even at a fat discount, when there are still updates to be made -- hell, you are an RE agent, I don't need to tell you.So maybe find a local rehabber that has some crews he needs to put to work for 3-4 weeks and price it out. 

What is everyone's thought on investing in a property located in a flood zone?

Never mind that the property is located in Baltimore MD but after looking at the taxed assessed value of 227K I have absolutely no idea how she got to that valuation.

It would help if you gave some detail on what type of properties you are looking for, where you are located and what your overall goals are.

Good location, close to family (we're incorporating it in a move, cashflows, under market rent, 19 year old building, nice, clean units.

We plan to keep 7 years to indefinite.Our location in King County.  

if looking to purchase out of state your best bet is a large national bank or to search for a community bank in that location. 

While you are located in the Chandler area of Arizona, you should broaden your horizons and consider the entire Phoenix Metro Area as a potential investment since you're so close by.