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This question is pretty important right now since PPP only loans based of schedule c. 

During title search they discovered an old issue with title.

I’d like to touch base with someone in the field as I have some questions as it pertains to the job itself and what any similarities/differences to a PA building code inspector might be.Any help or pointing in the right direction is greatly appreciated!

During title search they discovered an old issue with title.

You will find abundant information here on BP by typing house hacking into the search bar. 

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. 

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

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.

Also am open to criticism and new ideas as I search for a Real Estate mentor as well.