He was a good guy” and his information  on buying at tax or foreclosure sales was realistic and doable. 

I also suspect inflation will drive continued migration to lower cost of living / lower tax states.  

No personal income or tax returns are required.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

I do like the tax benefits and leverage.

Quote from @Michael Overall: Good day, If an investor has 10 rentals and wanted to over time sell them and put the money tax free from a 1031 toward a large purchase is there a process to do that? 

Taxes are the $100, so about $290 a month expenses. $110 a month in cashflow.

As someone mentioned, the only thing passive about real estate investing is the tax treatment. 

Yes, you will have to file the partnership tax return.

A rent payment isn't enough to cover the DSCR payment, HELOC payment, tax, insurance, and maintenance.