@Joel Ray CottonI didn’t read all the fine details .

However, I made sure all the pertinent details were still the same. 

I can go into more detail but wanted to see if this will work.

Happy to chat and share more details if you like. 

If you don't have too many complicated details. 

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.