I'm not sure if Indiana offers a non-NFIP insurance option or not but if they are like Ohio than NFIP is your only option... however not all agents understand how NFIP works or how to give you coverage options.If your main goal is checking the box for flood insurance at the lowest possible cost I would suggest asking the bank what is the least amount of coverage  and what is the maximum deductible they will accept - then get an agent to quote it that way.I'm NOT saying this is a good idea to insure your property this way - you really need to investigate the risk and talk with your agent on what your level of risk tolerance is.Many agents will try and quote it at the full reconstruction cost amount like it's an owner occupied property.

It’s a rural river front property and main highway exposure is Airbnb a good option in the valley?

A way that I think I could really come out on top is by living in a garage and renting out the main rooms.

What are the fees, penalties, or other main factors to consider with these accounts?  

One of the main avenues I know that I need to involve myself in is to connect with local Real Estate Agents.

I was thinking one would get licensed in MO and the other in KS for now (mainly because we will both be working for a bit and can cover each other) but not completely sure if we will need to do that so thank you for your honesty.

Now the normalized rate is used for qualification purposes, so it's never done.In theory you might have someone at a 20% DTI who would prefer to be at a 15% DTI for that first couple years, but IRL people at 20% DTI are those very same people who can just do the math to realize that this heavily favors the bank, and such a person (who could qualify either way) would never do it.I certainly applaud that you're looking into wonky guideline provisions and how you might hack a glitch in the matrix, but this is the wrong glitch to be trying to hack, unless your time machine allows you to travel to 2005. :)The closest to this that now exists, for the cash heavy but income modest, is buying out the PMI upfront on a conventional mortgage, rather than ever making a monthly PMI payment.

@James Wise  Per your request.Coming out of the late 1800s most of the major west coast cities that we know and love like LA  SF  PDX SEATAC were all subdivided by the same engineering firms  at least SF and Portlandia were.. this led to land speculators in the day going out into the Western deserts and other remote areas.. buying what were large land holdings , Spanish land grants and other lands that were not govmit owned.. then in the day you could simply create massive subdivisions buy doing basic surveys off of the base and meridian lines.. which all of the west is surveyed off of... this is called section land.then create these massive tracks of lots.. some were like up in the apple valley, Lancaster,  Barstow type areas mainly 5 acre tracts.. and were done on a grid pattern.. streets in ( mapped but not built)  and of course spiraled out of a small little town off the railroad track or the few roads that existed in those days.. you took your map and recorded it at the county, county was happy they just got 5 thousand lots they could send out tax bills on..

If you are interested I would recommend checking out the “main event” they will be talking about wholesaling, you can see if the class is right for you, and if it’s not your still at a great place to meet people and learn about the Baltimore market.Class:http://www.baltimorereia.com/wholesaling-for-fast-cash/Meeting Schedule:http://www.baltimorereia.com/our-ev**

It will be vacant for much of the winter months its only 4 years old I built it.Master on the main.. 5 bed 5 bath  fully furnished with nice stuff.. basement with full gym etc..