One thing I want to be prepared for is repairs and remodels.

Most major repairs had been done.

Seller would be open to creative financing since house needs foundation work.Asking 300kFoundation Repairs- $40k ( could be way less) ARV- $385 to 400k

House can be in need of repairs, but not drastic.

So far there is some indication of a little uptick for 2025 booking - I've already booked out a few weeks beyond the winter, which is when I go down and take care of maintenance and repairs - and in the summer, but traffic and inquiries are way, way down.If you feel like seeing a blood bath, just pull up the MLS and look at the Margaritaville development.

Also want to add that she had multiple violations such as having a dog with her while her contract states no pets and she was contacting repair facilities and acting as my agent or pretending to be a property owner and interfering with repair process. 

A couple expense assumptions:Insurance: .6% of market value per year ($1300 to $1700 for garden variety SFH)Repair buffer: $50/moPM: 8% of gross rent + 80% of first months rent HOA: Ranges from $0 to $50/mo.

Have a robust cash reserve to handle unexpected vacancies, repairs, or market shifts.Good luck, and I’m excited to hear how your journey progresses!

He bought the property pre COVID, so his cash flow is definitely going to be different than what mine will be.The question I'm wondering if its a good idea and if the numbers make sense.Purchase Price: $100,000Down payment: $20,000 (20%)Current cashflow: $900Property manager: $90 (10%)His expense for 12 months was only $1,430 (inspections, repairs, management, eviction services). 

From everything I hear the costs exponentially grow when a PM hires out your repairs/maintenance compared to the cost of you source the work yourself.