I don't know all of the particulars of your situation, but based on a couple of possible scenarios, here are some suggestions:  1.  

Commercial real estate investing is largely a matter of analysis regarding financial data, conservative projections based on that data, and market/feasibility.  

Evaluate each "deal" based on your verifiable numbers, design capabilities, and return requirements. 

Do you have a full knowledge of the RTA and how the LTB both interprets and makes rulings based on it. 

The deal seems off based on just the numbers but it never hurts to try, they can only say NO

Quick question before I give advice -- based on the cost numbers ($28K purchase, $50K rehab, additional $15-20K rehab, plus any purchase/holding/selling costs), it appears that there's a good chance you're going to break even or lose money on this deal.Are you prepared to do that? 

Some possibilities MAY be redirecting water away from the structures, or jacking the structures up and building a base underneath, but most likely the property is in a flood zone and these would not be effective solutions.  

Although my company is not based in NY, we are both buyers and private lenders on lower $ ARV SFR properties throughout the U.S.Wishing you great success.

Absolutely make use of all the online tools available throughout the processEvaluate resumes and reviews/recommendations from trusted resouces, peers and past clients (like you would on LinkedIn for example)Narrow down your search to the top candidates and schedule in-person interviewsChoose your top 3-4 final candidates and check referencesThen ask at least three to provide bids for your scope of work requiredEvaluate the bids and pick your top candidate...then there is one crucial step left...Make sure to take an in person look at the physical finished work your final chosen contractor has done recently.Like almost everything else in real estate, choosing a great contractor requires time and effort.  

I am an experienced real estate broker based in the UAE for 13 years, working to market and sell UK investment developments and UAE residential developments to international clientele.