I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

From my experience, security has been good, there’s plenty of space around the pools and clubhouse area too, so it’s never loud or crowded, and the HOA appears to also cater to a broader more modern and contemporary audience, to include its Canadian, Brazilian and European guests and investors.

With that being said we tend to see a lot of CA buyers relocate here for the lower cost of living including lower home values, property taxes, insurance, no state income tax, gas prices etc.

This includes cap ex, repairs (will a renter leave the property in the same condition you hand it off in?

The main differences (besides rates/underwriting guidelines) is what you can include in your renovation costs.

@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

Maintain - includes taxes and insurance?

The factors you mentioned are very important to keep in mind for any investment, but I like investing in areas I know. 

Would be curios if folks have also just included the cost of utilities at this price and left it unpermitted.

A) The $40K cash on hand was not including my emergency fund and merely represented what I wanted to stick to as a low ~10% DP or to be used for a small refresh/reno.