Found a house to flip. Great house, good numbers. My only concern is for resale. The house has had foundation repair w/ a lifetime transferrable warranty. It is also in a flood plain with transferrable insurance rates of $450 annually. Is this still a good resale value having transferrable warranty/insurance, or will it be difficult to find buyers?
I wouldn't buy a house in a flood zone personally.
The only way to avoid flood insurance is to buy the house out-right, to avoid the insurance all together. BUT, if there is ever a flood its not covered.
Every home listed in a flood zone in my area has been on the market forever, no one wants to pay that kind of money (more like $2800 annually here). The rates are likely to rise up to 12% a year with no end in sight.