@Chris Seveney thanks for your comments that helps me out.

Quote from @Chris Gormley: Hey all, I am a real estate investor/developer who just moved to the Charlotte area.

Purchase prices of the home was $170k. 1-year renewal in the warrantee is $540.Thanks in advance,Chris

Quote from @Chris Mitton: Quote from @Tom McDermott: Quote from @Scott Trench: I've seen a number of prices drop here in Denver over the last quarter or so.

Quote from @Chris Harris: I'm a mortgage broker and deal with people like this all the time. 

Originally posted by @Chris Mason:Plan on 70 hours/week your first year or two, or going out of business.

As @Chris Masons pointed out, there is a secondary market for flood insurance, you do not have to get it from FEMA. you can also check FEMA online, there they have maps that you can zoom into your property and get an exact marking for what level the property is. however, it does not matter if your units are a certain distance above grade, the problem lies with your basement, you have a basement, you have to pay flood insurance, especially if the mechanical are down there. the only way around that at that point is to raise the mechanical and fill in the basement with stone, FEMA site will even tell you that.

Im wondering the same thing as Chris.

@Chris Music , haven't had the pleasure yet.. but soon will!

Hey Chris!