This also gives me solid staying power when maintenance costs arise. 

You need a reserve to handle unexpected costs, particularly during the first 1-2 years of ownership and learning how to manage the property. 

While under contract, we perform due diligence and there will be some soft costs incurred. 

Then if I have additional concerns I call in an expert to get further information and an estimate on what the repair will cost.

(If you have not already) read enough books on real estate to increase your knowledge base.

It hedges any downside risk and increases cash flow.

Additionally, the cost to create a business here is not as inexpensive as the United States, in some cases it can cost thousands of dollars to setup. 

A revocable living trust is another option for privacy and asset protection.Avoid gifting the property before death, as this would pass the original purchase price as the cost basis, creating a large capital gains tax liability upon sale.If the property is Subject A’s homestead, ensure the correct titling to maintain Florida’s homestead protection for Subject B.This post does not create a CPA-Client relationship.

A manager will roughly cost $100-$150 a month to take over a unit (it could be more or less in your market) and manage the units.

Your clients will be trusting you with some of the most expensive transactions theyll ever make and an error on your part will likely cost them thousands.