I like it but would you mind going over what makes those numbers bad or just a little more detail on your thought process?

Any details you can share on design and costs would be much appreciated. 

It may not be in the right segment of the flood plain, or be the wrong type of benefit (flow, storage or area) but it could be and it would be a win-win potentially.None of these may actually be useful, but the only way to find out will be to physically explore each one....This is really a detailed approach to the old "offer the property to the neighbor".

@Andrew Pfleger While I would need some more specifics in order to give a real answer (and I think most of us here on BP always like more detail rather than less when it comes to strategy advice), I will say that if the seller is looking to do a 1031, you may have a bit of leverage.

You can do what you describe, but I don't think you want to do it because of all the problems detailed in those articles. 

We're located in Greenville, SC, but plan on doing most of our business in Tennessee and are wondering if it's worth getting someone local to us or someone who knows Tennessee details.

When loosing the roof over your head is at stake people find a way to figure out minor details like this language barrier.Also as a side note as I said I have rented to people who speak English & people who don't.

Thanks @Kurt Michaelson, I've seen many of these "wholesale" contracts, unfortunately I don't think they are detailed enough to protect me.

Here are some of the details of our current home :-Home Value: $186k-monthly mortgage after escrow and PMI: $960-homes rent for around $1300 in our areaWhat strategies would you employee?

I have a complete plan behind wholesaling which is too detailed to put in this post.