We meet on the first Wednesday of every month, feel free to come out to the next one (sadly I'll be out of town for November's meetup, but I'll be there for December's meetup).

I am faced with a decision of paying 50k> to purchase a lot in a regulatory flood way or >75k to purchase a lot not a flood zone.Obviously as investors, the numbers matter, so is this an action I should enact on or should I avoid the flood zone and purchase the higher priced property or take the risk? 

The risk you run with this model though is you would risk being over leveraged since your using 100% debt, and you would need the property to have a high cashflow amount each month to cover Capex, insurance, debt service, and your normal expenses associated with the property (property management included).

I consider this high risk.  

While many lenders will say they can lend on STR's, often times they are relying the appraiser to determine the income on the 1007 which can open you up to this kind of risk.

With each deal you do, you'll get more experience and knowledge which will help you be successful over time.If you have any other questions or need any recommended resources, feel free to DM.

I own my own home free and clear in Converse, Texas.

. - Pets have free range of the homes, just like my pet does at home :).

Not $390 per month.However, I've gone ahead and given you one month of the membership for free, to try out the calculator.

Plus, it's free.