Remodeled house in flood plain

[Eric D.]

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