Have you had negative encounters like this at the beginning of your investing career?"

I agree with Che, when ever some negative thing came up you would be responsible, yet the positive aspects would most likely be overlooked.

I realize that the property being in a flood plane will have a negative impact on the market value but it still seems like there would be room for profit if I were to wholesale it given the surrounding houses value in the area.

Hi BP,Looking at a seller with no or a slightly negative equity position my research leads me to believe that a "subject to" deal is my best option.

I am wondering about the positive aspects of using this product, but most importantly I want to know all the negatives as well.

I have been reading a book from Ken Mcelroy where he says something in style with: A person that aquired a apartment building, didn't ever visit the property, bought it sight unseen. it was filled to 60% occupancy and was in negative cashflow therefore it was: UNSELLABLE. 

That negates value of rooming house.

Most QCDs negate your title insurance and are red flags to me in the title chain.

At your negative cash flow you not be able to make up for any expense.  

But I AM saying that if you are speculating in real estate, you should be very careful where you have flat or negative population growth because your expectations of appreciation are unlikely to be met.