Not going to kill it on the rental income, but if you sell it subject to, there is a lot of equity.

The type of rooms students would need or skilled temporary workers, not drug addicts and alcoholics. 

Belize is super picky on financial transactions due to US drug traffic monetary controls.     3.   

No treatment for drug abuse available?

You are not selling the property. 

You sell after 12 months and take no depreciation expense in the first year.  

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

The tax is based on selling price minus purchased price.

Hi @Katie Lyon,Properties are typically still selling in Cape Coral right now to active buyers, even with elevated inventory.

I can't give a tutorial re how to originate a note today, selling a house with financing in just one post.