Why take the risk? Florida.

[John Peter]

I just moved 460k into an account with 4.75 % interest. It will provide over $2k a month of income, risk free until I decide what to do with the cash. For the past year, I had been looking to invest in multi families somewhere around Tampa area. After factoring in the insurance nonsense, skyrocketing taxes and double digit increases in utilities and I'd be lucky to cash flow a couple of hundred a door. That's IF nothing needs maintenance or repair. So, my question to you more seasoned investors is.. when you can park your cash in a CD or high yield savings at 5.5%, why bother taking the risk, especially in Florida? Any ideas that I'm not considering?