In any business, your first question needs to be, "Who is my target audience?" 

I think I answer this question once a month. google Huntsville Alabama and overbuilt and you'll get your answers 

Once you do, then you can verify if it's hard or easy to flip there.Couple questions I would be asking, how long does the permit process take.

I really appreciate you taking the time to answer my question. 

I would love to just give you a simple answer, however your question is not a simple one. 

@Richard StewartThat is not what we use it for, so cannot answer that question.

Also considering the length of time/ amount of work that needs to go into the property I may have some leverage to enhance the overall deal.I guess my question is what should I do?

If you have any questions, please feel free to ask.  

Great questions—buying in an AE flood zone definitely comes with risks, but it can also be an opportunity if you analyze the numbers, insurance costs, and future resale potential carefully.

In construction your plans are your Bible, so you need to know how to locate any discrepencies, locate answers to questions froms trades, understanding "Take-offs" with your materials, and be able to visualize in a 3D space what the plans are describing.