I eventually settled with an FHA insured loan at 30 years and let me tell you that those inspectors are picky.My home's first floor is under the base flood elevation.  

Elevations CU can be pretty flexible.

Asking price $87K, may offer $82K, 25% down ($20,500) 4% interest, 30 years.P&I: $294Tax: $137Insurance: $103HOA: $361....first red flag, it seems pretty high to me (it supposedly covers security, common areas, elevators, laundry rooms.Rent: $1300 (potential), second red flag because it's vacant at the moment.

You'd lend a friend who you've known for a year $20, but would you do the same for someone you just met on an elevator?

The worst thing you can do is elevate all the Doubting Thomases in your midst to positions of influence.

Can you get an elevation certificate to get it exempted from flood insurance?

Nobody in any state can do a full gut rehab for $20 per SF.I am closing on a single family home (elevated foundation) built in the 50's and it is a full gut plus roof, termite tenting, and the whole works.

I have seen one place that actually had a lease in place for an elevated rent.

yesgo to the building department or you may be able to find the construction prints on linemost apt buildings are built on point- meaning the exterior and 4 columns are the frame of the building all the interior of the build excluding the elevator and stairwells are floating/open space no structural bearingdepending on the unit you are looking at and its location you may be able to demo the whole interior of the apartmentall the above is relative to the year of construction and the materials used for constructiongood luckenjoy

Normally we recommend not doing any cosmetic work for 8 weeks which gives the framing and drywall time to adjust to the new elevations.