Let me apologize upfront for hogging a lot of space because I think I will be filling up the forum with some good questions (and some stupid questions!) So right out of the chute: Here goes!
If everything else is in line, and the numbers are good, would you move forward on a deal that is located in a flood plain? Assuming you have quotes on insurance and it fits your budget, or is this something you would run from?
All the same, I’m not sure I’d want the hassle at flood time. Your insurance would have to somehow cover permanent loss of income. If the local authorities change the rules after the next flood e.g. must have floor at xx ft above sea level, you may be looking at raising your mobiles up 3 - 6ft higher like in New Richmond, OH. Not a good look for the few that have done it.
A park north of Cincinnati flooded its lower half several years back. No one would move back to that section AND the residents warned any newcomer about the hazard/misery, etc.
I’d have to buy this thing for a song for me to sleep at night but then I’ve lived through a couple of floods.