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Updated over 7 years ago on . Most recent reply

User Stats

51
Posts
12
Votes
Eric D.
  • Investor
  • Milton Florida
12
Votes |
51
Posts

Remodeled house in flood plain

Eric D.
  • Investor
  • Milton Florida
Posted

I am trying to decide if I should sell or rent out a house I remodeled in a newly re-zoned flood plain. I would rather rent it but the flood insurance goes up substantially each year from what I understand?

If I sell it I would be facing the selling costs and capital gains? (house has not been rented yet). Would it make sense to rent for a period of time to be able to 1031 to another house?

Is anyone familiar with flood insurance on rental homes?

Thanks

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