I realize that the property being in a flood plane will have a negative impact on the market value but it still seems like there would be room for profit if I were to wholesale it given the surrounding houses value in the area.

I don't have statistical demographics in front of me, but I know it well and I would like to share with you what I know.

Hi BP,Looking at a seller with no or a slightly negative equity position my research leads me to believe that a "subject to" deal is my best option.

See BLS ReportAccording to the latest Bureau of Labor Statistics report, Indianapolis' unemployment rate was just 3.8% in September compared to 3.9% for Dallas.

I am wondering about the positive aspects of using this product, but most importantly I want to know all the negatives as well.

I have been reading a book from Ken Mcelroy where he says something in style with: A person that aquired a apartment building, didn't ever visit the property, bought it sight unseen. it was filled to 60% occupancy and was in negative cashflow therefore it was: UNSELLABLE. 

Most QCDs negate your title insurance and are red flags to me in the title chain.

At your negative cash flow you not be able to make up for any expense.  

But looking at the statistics, Detroit proper has lost 2/3s of its population since the peak in 1950.  

I heard of Lima One, but I did some research and I saw a lot of negative feedback.