@Joe Miller this is the general performance of our market"homes under $350,000 sold in an average of 13 days.

It was a stretch for me but it got my foot in the door so I could eventually move up into something else. 

The typical time to rent is eight weeks.How has the "Permanent" tenant pool performed for us?

We are hoping to find suggestions for where to look for tapes of non-performing notes with the goal of practicing due diligence, researching, and making offers.

Can someone help me understand for a flip in a 100 year flood plain if I need to elevate an existing property if I plan on adding an extension?

A nonconforming use is a use of land, buildings, or structures that was lawfully established prior to the effective date of this ordinance, or any amendment thereto, but which does not conform to the regulations for the zoning classification in which it is located.Nonconforming uses may be continued subject to the following limitations:a) No nonconforming use shall be extended, expanded, enlarged, or moved to occupy a different or greater area of land, buildings or structures than was occupied by such use at the time it became nonconforming; provided, however, a nonconforming use may be extended throughout any parts of a building which were specifically designed and arranged for such use at the time it became nonconforming.b) No building or structure devoted to a nonconforming use shall be enlarged, extended, recon­structed, moved, or structurally altered unless such building or structure is thereafter devoted to a conforming use; provided, however, such building or structure may be enlarged or extended upon prior authorization from the Board of Adjustment, which authorization shall not be granted unless the Board of Adjustment makes each of the following findings of fact:1) The proposed enlargement or extension shall be de minimis in relation to the existing building or structure.2) The proposed enlargement or extension shall not increase the intensity of the nonconforming use, which is to say, it will not result in an increase in dwelling units for a residential use nor in gross floor area for a nonresidential use.3) The proposed enlargement or extension is designed so that it will not render the use of the property any less compatible than it is in its existing circumstances.4) The authorization of such proposed enlargement or extension is not otherwise contrary to the public health, safety or welfare.c) A nonconforming use of a structure may not be changed to another nonconforming use unless such change is authorized by the Board of Adjustment.

My understanding of loans and financing is pretty limited.The latter scenario you describe of financing the purchase and rehab and then performing a cash-out refinance is quite frequently practiced.Often, an investor will get a loan for the purchase and rehab of the subject property, and then (after seasoning) cash-out refinance using a traditional bank loan.

Then, just let the current tenant out of the lease (i would keep the deposit if they failed to stay the full term) and then sign a new lease with the new tenant and perform all income/background checks as-if they were applying for the unit.

@Brent Coombs, @Matthew Brill, I was performing my analysis for after I move out.

But it still failed section 8 inspection extensively.