I wouldn't buy one from scratch if you don't have the experience. especially in miami where it's one of the most expensive places for land in the country. the areas you are talking about can exceed more than 20 million an acre depending on height allowances  

I think having the flexibility to choose what weekends my family or friends wants to come into town out weights the consideration of putting a tenant in there full time.I have researched a bunch of things that come into consideration before starting this and I would love thoughts!

Look into neighborhoods like Jefferson, West Park and Boulevard, Brooklyn Center, Old Brooklyn, and Newburgh Heights. 

We cringe when we see people who model assets through rose colored glasses especially when they have little money.As you mention leverage can be your friend but you also need to make sure you have considerable amount of cash to cover the types of expenses etc you mention.

Hi Bob,I just bought my first duplex in Garfield Heights and looking to connect with some recommended contractors for the near future.

Here are a few key considerations to help clarify why many investors opt for financing, despite the risks involved:Leverage: Financing allows you to leverage your capital.

If anyone has a solid HVAC person out in Cleveland ohio, specifically in Garfield Heights, please have them contact me on BP.

You might find that "saving" on taxes is small compared to what the property might be worth (talk with a trusted real estate agent who knows the area and can give a projection of property values).Don't forget to factor in closing costs (real estate fees, pro-rated property taxes, etc) and take into consideration your other income and/or investments. 

Purchase price: $150,000 Cash invested: $100,000 Recently completed a purchase and renovation of a multi-family house in Cleveland Heights, Ohio (BRRRR Method).

@Tatyana Sherban Considerations are speed, imterest rate and other terms, hassle and complexty of getting loan, and in some cases probablity of getting loan.