Getting it under market value would be a bonus.So, would using an FHA 203k renovation loan, which would allow me to buy something unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.

However, I didn't continue this since I couldn't find any deals that would allow me to do a full cash-out refinance.  

@Angelo Llamas Even if your rental property breaks even, you should still claim allowable tax deductions like maintenance, travel, insurance, property taxes, and depreciation.

First, there is zoning and if it's allowable.

Is there a funky property tax issue that arises with the collateral that is a local municipality error and can lender quickly analyze the situation, assess and articulate the risk and allow draws to carry on or will they make the life of the borrower miserable?

Hi Shawn-Congratulations on starting out on your real estate investing career.You have a question about whether it is good to have your real estate license or not as an investor and you are leaning toward multifamily investing.I personally think having your real estate license is helpful as an investor.Having your real estate license allows you to work with other investors to help them build their portfolios which helps expand your network while being productive, you can research market value more effectively, find out about deals before they are listed, and of course it allows you to collect the commission on purchasing any listed property.To Your Success!

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

On the other hand, keeping the house could allow us to maintain an appreciating asset in a desirable location.I’d love to hear from others who’ve faced similar decisions.

Most also don’t allow the property to be titled to an LLC/entity 

All that said, I actual in cocoa beach area so probably even more desired than orlando but orlando was all it would allow me to select when setting up my account.