Factors to consider when buying properties in Tampa FL?

[Jin Zhang]

Hi everyone,

I am trying to understand more about the cost of investment in Tampa FL. From research, I have gathered the following information. I would like to understand more from experts in the forum if my understanding is correct and what I am missing.

Other than the monthly mortgage, I have to consider the following costs.

• Property tax: it is likely to be around 2%. If I use 2% in my calculation, would this be a safe bet? Or I should increase it further to 2.1% or more?
• Home insurance: maybe a safe number would be $300 per month.
  • If in the flood zone, need to add $100 per month flood insurance on top of it.
  • No insurance would be given if the roof is more than 10 years old?
  • 4 points: HVAC, Electric, plumbing, roof: need to be relative new and in good shape
• CDD – added cost - how much per month? 
• HOA: added cost
• Property management fee: 10%
• Capex: 10%
• Maintenance: 10%

Anything else?

Thanks,

Jin