[Calc Review] Help me analyze this deal

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Hello! Brand new inventory here! Any thoughts anyone has on this property would be appreciated! My concerns with the property are these... The property is in a flood zone. They claim the insurance is $1700/year. (not yet verified) Would I be smart to require renters to carry, along with proof of renters insurance from the renters just incase a flood occurred? The property is also zoned commercially. I have yet to figure out the property taxes as this city's website is quite horrible. The acquisition price is 22k under asking yet I will still have $18,000 wrapped up in the property after refinancing. Any ideas of how to get at least $10,000 more pulled out during refi? My last concern is this property was last sold in 2020. I am wondering why they want out of the property in under a year. Thank you!

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If you are getting a loan, your lender requires flood insurance. I don't think renters can get a normal FEMA policy, as your agent. Commercial zoning may make it difficult to get a conventional/FHA/ VA ... loan. Why is it commercial ? What is the location type?

Updated about 1 month ago

ask not as

@Caroline Gerardo hi! I thought the commercial aspect was very odd as well. The location is a sporadic residential area. Lots are big. A very small creek runs through the backyard. This property is only a 6 minutes walk away from one of the states better elementary schools. 

couple guesses: due to covid they have non paying tenants? found out that city/county planning will not allow them to add to the property? 

They won't tell you the whole truth about non paying tenants. Ask to see the cancelled rent checks, or you are entering the covid holding zone where you can't evict or collect. Go to county planning and ask if they would allow an ADU or addition, poke around and find out from other sources