Mobile home parks in a flood zone
Hi, I've been buying more of residential properties in the past, but I saw a mobile home park for sales and it looks interesting so I have been peaking at its financials and some data points on it. I noticed that this particular park majority of the park is in the flood zone. For residential rentals, i stay away from flood zone because the flood insurances are very expensive. I'm wondering if the same concern would be true for mobile home park. the park is about 50-50 between land lease and home rentals (and few that are rent to own). I understand for rentals and rent-to-own perhaps the flood zone would cause the insurance premium to go higher, but is there any other reason i should be concerned about park in a flood zone? THank you in advance.