Miami First Deal - SFH buy and hold rental

[Jonathan P.]

Hey Everyone, I have read the forum for years and finally making my first post. I am a new RE investor. My objective is buy and hold for the long haul. I have invested in stocks for years, but I see much more advantages to RE. I have been very cautious about picking my first property. I came across a few single family homes in miami with 6-8 cap rate with little rehab needed. My investor friends tell me to sit on my hands and wait for a gem especially for my first deal. I have been cautious/ patient but I am ready to get in the game. Is a 7 cap single family property in miami a good enough starting point? I am going to use conventional financing 20% down. Thank you for the help!!