It is common that sometime floodplain maps are not always up-to-date based on current conditions, and thus you site may actually be above the floodplain elevation. 

Since this isn’t a “fixer,” and you’re going the FHA route, you’d have to go out-of-pocket for the remodel/upgrades or get a construction loan based off the ARV, which is generally going to require 25-30% down unless you go with private money, which will have much higher interest.I see it’s pending, so maybe you got it under contract, but if not, I know you can find a good deal out there, even if it’s a smaller starting point.

You are in the same boat as we down here in the Dallas, TX areas... rates and the base % of Deductables are going up! 

Diligent search over several months and word of mouth.

Hello, my name is Joe and I'm based in Chicago, IL.

Call me difficult all you want, but I'm posting an important warning to the BP community: you cannot set your S-corp salary based on some rules of thumb, such as this 60/40 urban myth.That said, there is also no such thing as paying yourself out of a disregarded entity and no such thing as an LLC "owned" by an S-corp.Now you make me guess what your actual setup and your actual intention is.

I am a newbie to the real estate investment game and live in North Dallas.

He can help you get plugged into the investing game!

I appreciate your words of encouragement.

Fast forward to today, and they've fine-tuned this tool so well that it's like having a crystal ball for home values, nailing down prices with jaw-dropping accuracy.But the real game-changer is something they're calling a "housing super app."