or do i have acquire other certifications.

As a first time investor the near suburbs might be a better bet.Additionally (and very importantly) I would make sure you are well versed in what is going on with the city certification process right now.

I also plan to request they add me as the Certificate Holder and Additional Insured on the policy, and provide me with the policy endorsement.

An attorney told me I could convert,  but would need to get a permit to have the zoning certificate changed. 

@Anthony Gale  You need to get an estoppel certificate completed ASAP. 

I assume you will get an estoppel certificate signed by the owner and each tenant outlining rents paid, security deposits  and any verbal agreements.

This is what I'd assume:Bank approval Purchase sales agreementInspection/appraisal Real estate attorney Maybe smoke certification?

Would you recommend I hire out and conduct my own well inspection, or is a "certification of proper welling" from the developer suitable to cover my behind in case of future problems?

From my reading on this, it seems that the most affected properties will be those in the special zones VE or AE that have not had an elevation certificate done and are currently subsidized.

We do not sell "tax certificates or "deeds" of any nature.