Tampa Bay/ Pinellas County Finding Rentals

[Andrew Martin]

I am a relatively new investor. I bought my first property back in 2009 when the market was still low. In the last two years I turned it into a rental that is cash flowing nicely. I know the market has gone up significantly in my area. I have been looking for buy and hold SFH or MFH properties but the numbers aren't working for rentals. They don't come close to meeting the 1%-2% rule unless they are in D neighborhoods . I've started to consider Section 8 properties after talking to some other investors. I'm just concerned about the high turnover, vacancy, evictions etc... Even distressed property values in Tampa Bay Area seem inflated right now.

Do I just need to look in another area? I'm trying to stay local if possible in the beginning. I've been looking at MLS and off-market deals. I haven't tried direct mailings, door-knockers, or directly contacting owners. I'm getting my real estate license to help find deals and learn more of the ins and outs. Any other suggestions? Is anyone able to find good buy and hold properties in the tampa/ pinellas area currently and if so how exactly are you drumming up leads? Any help is much appreciated.