Again, newer homes are often less due to the higher elevation they're built on raising them above the base flood elevation for their zone.Hope that helps!  

We looked at an office building with great numbers but upon closer look noticed that one tenant represented 50% of all the income in the build and there lease was about up, and it was also the only office building in area without an elevator. 

none seem to pop into my head @Chris Clark, but other than FEMA and NFIP, are 2 key players that can make or not make you want to invest in the post-flood "redstick," my realtors work with us and we try not to buy in flood zone areas, but our newest project will require a flood certificate, if we have to elevate then no deal, but we are expecting to rehab and standard flood insurance, this is the new norm after the devastation, we buy low and sell for profit, just hope home-owners that want to invest in these areas will go the additional mile and get contents/possession coverage as well, always keep Louisiana strong, keep posting but most of all keep sharing

What really kills them are all the missed payments up to the point of the short sale is successfully closed- Credit reports show the mortgage as an account paid in full- Can buy a new house within one day of a short sale- Eligible for an FHA loan within 2 years versus 7 years with foreclosure- Keep government security clearance- Get your dream job because they're are no foreclosure on your credit history (yes, companies can check your credit history)- Pay less on every loan you get for the rest of your life versus elevated interest rates with a foreclosure on your credit historyPros for an investor buying short sales:- Bank usually takes a discounted amount for a property- Can control the offer amount and the way its negotiated- Can control your deposit amount (no need for +10% down payment)- Good negotiators can get you a good deal- Can send in a contractors report for further discounts- Plenty of people that need help = lots of potential deals to be made.- Be a hero to a family that thought foreclosure was the only option out!

If we could have taken their elevation drawings to an engineer we could have built things that looked just the same but were much less complicated and expensive on the inside where no one could see.Bonus: How often and how comfortable are they working with first time developers?

Does the unit have elevators or just stairs?

I used to house hack my way through investing, elevating the property slightly each time, either by selecting a bigger property, or a nicer area. 

Also, the lower units may be below the area's base flood elevation, which would prohibit you from rebuilding them unless you somehow raise the house.

Elevated Construction & Design, make sure to use someone who gives you detailed scope of work, work/payment schedules, etc.

I often feel that I greatly elevate my own appraisals and also for my clients.