Here's an idea, don't eat paint chips!

A project like this can eat you up if you've not properly prepared all the details.

You could always have your cake and eat it too.

Some areas you can concentrate your efforts in are 1) Ruskin - New amazon warehouse employing several hundreds of people here2) Lithia / Fishhawk area - Great schools but beware of high CDD + HOA + Property taxes that'll eat into your COC return3) Winter Garden - Booming market in orange county, has a new hospital and several new business coming up.  

I know how these things go.So think about it  fully rehabbed 40k home.. that home has to be bought for 5 to 10k  because if you want a home that is rehabbed it needs at least 15 to 25k of work done to it .. so it does not eat you up in cap ex.. so lets say the company wants to make 10k  ( pretty common for house flippers) so the most they can be in the home is 30k  so you are buying the lowest of the low at wholesale values the worse of the worse areas.. and on the face these do not equate into long term steady cash flow vehicles. they just don't  they only are sold to those to new or naive to understand this won't work long term....

In other words on a $50k loan, foreclosure and other costs eat up a bigger percent of that $15k in equity whereas on a $300k loan those expenses make up a much smaller percentage of that $90k in equity?  

@Jose Roberto Funes Jr if the deal was bad enough there isn't a buyer, you should tell the seller you can't close and eat the cost of whatever earnest money you've put into it already.

Derrick:Arctic Char is not bad eating ... just an oiler salmon.A friend of mine studies (or studied) Gurry Sharks (called eqalussuaq by the eastern Inuit).  

Remind them of that when you are presenting your final offer.If they balk,walk out on them and let time eat at them a little and then give them a hard deadline to accept the deal.Never let a seller know how much you really want the property.Make them really want to sell it to you.

If you buy this year and they reasses next year you could be paying much higher taxes next year eating up cash flow.