Buying my first property (Florida)

[Marc Latreille]

So I am finally looking for my first buy. Looked a long time at wholesaling, raising money and all, looking for a 'perfect' solution.

But now that my other business is doing well, there are some deals I can now do by myself, without raising money or anything.

Being from Canada, where RE prices are just waaaay too high, and winter is pretty cold, I am looking for a place to spend some time in the winter months. Florida is a state I like, low taxes, business-friendly, not so expensive, warm.

I am looking at doing a BRRR on a SFR or duplex, anywhere in Florida. I have looked mainly at the Tampa and Orlando markets. I am looking for a B- area or so, block construction. As my play is a BRRR, I am looking for a fixer-upper, but not a major remodel. I am a contractor myself and will do this with my partner, an electrician, so would most likely pay (almost) only for materials.

We have roughly 30k to invest, figuring an owner-financed or other kind of low money deal (counting 10k down payment, 20k repairs) and would also have some spare change for closing and holding costs.

Ideal numbers would be around 45k purchase price, 20k repairs, refi for 65-70k, rent 1000$/month... is that realistic? 

Now, here are my questions

-Any areas/neighbourhoods to suggest/avoid

-What is realistic to pay in these places?

-What about my numbers?

-Is section8 recommended?

-Any market you feel is better than Florida (I am independent of location)

-What should be my first step?

-Should I Direct Mail, buy from a wholesaler, an agent, FSBO?

-What is a realistic timeline from Purchase to Refi?

-Or anything I am missing?

Thanks all in advance for your replies