Before jumping into the condo, I’d take a closer look at whether the $300/month cash flow is worth it compared to other options, like a small multi-family property or a property in a higher-yield market.

Pull out a spreadsheet and go through the tools everyone mentions to run some comparables and take note of photos, amenities. 

- Shane & Jen RegnierHey @Shane Regnier like Giuseppe said, it's become a little saturated in some areas of Ocala compared to 3-6 years ago.

Appreciation kind of lags compared to other places further east in northern Alabama.

I am curious: what are typical occupancy rates, and how do we measure and compare them?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Projects that may not make sense for some, will make sense for you if rehab cost is at 70%, comparatively.

The cost associated with insurance for not having 20% is peanuts compared to what you potentially can do leveraging your down payment. 

If you are getting a good deal on a place and it is just a regular-style house, I would run numbers compared to AirDNA and Mashvisor's estimated revenue.