Tampa Buy and Hold Strategies for Cash Flow

[Jessica Hicks]

Hi There, 

I'm a new Investor from Seattle, looking to purchase a first buy and hold rental in the Tampa Area. My price range is 150k-220k. I was initially looking in Riverview and Wesley Chapel Areas, but its seems like the newer SFH's in developments outside the city are not producing much return. Since this would be a first investment property, and out of State, I want to mitigate risk as much as possible while still getting some cash flow. What are some other strategies that a seasoned investor might suggest here?

Buy and Hold, Add Value? If so, what are some good areas to purchase in?  

Vacation Rentals?  

Or maybe the potential for appreciation on these new SFH developments would make up for the lake of cash flow in a few years?

The reason I'm looking out of State is because the Seattle market is becoming untouchable at my current price range, and I also need a place to escape the 10 months of drizzle and clouds!!!