Military Family moving to Pensacola for 1 yr then Minneapolis - where to live/invest?

[Steven P Daugherty]

Hi BP Family, 

I'm an active duty service member and real estate investor currently living and investing in Asheville, NC. I just received orders that my family and I will be relocating to Pensacola, FL for 1 year in Feb 2024. Then in Feb 2025, we'll be moving to the Twin Cities, Minneapolis/St. Paul area for 2 1/2 years. 

We've always wanted to invest in FL so we thought this would be a great opportunity to do a FHA loan (I've already used my VA loan here in Asheville for a property I turned into a rental). And if more experienced investors who know the Twin Cities, MN area, believe that area is a good place to invest too, we would like to buy and rent out when we leave there too.

So my question(s) is ...

1) Where in Pensacola would you recommend a family with young children live and then turn that property into a rental when our year is up?  Does anyone know of an investor savvy agent? We also just bought a primary residence here in Asheville in July 2023, so would I be able to buy a home in February 2024 since we have military orders that we have to move? Price point: Would prefer to it around $300k-$330k. We would be looking for a 3bd/2bath home. Prefer a turn key since we're only there for a year. Just doing a quick look on Redfin it looks like there are homes that meet that criteria. I just don't know the best neighborhood to look for and someone in the area to help us get established - knows handymen, contractors if needed, etc. 

2) Same questions but for Minneapolis too! Where is a family friendly area to live? Best neighborhoods? And are these areas good for rentals? Does anyone have an investor savvy agent in this area? 

Thank you all!!

[Steven P Daugherty]

Quote from @Mitch Davidson:

@Steven P Daugherty. Good question regarding buying a primary when you just bought one in July. If you were staying here in Asheville, no, you wouldn't be able to get a new primary residence loan so soon, as a year hasn't passed. In your case you'll be fine though, as you're relocating for work purposes.

 Thank you Mitch for that insight! We were worried we would be stuck waiting on the full year. Hope you're doing well and hope we can catch you at the December Asheville BP meeting!