Downtown str's have done well and it's convenient to the front gate of NAS Pensacola but you could also consider near the beaches of Perdido Key since that is convenient to the back gate and it's a more traditional tourist destination. 

Given your presumed lack of real estate experience, OPM (other than 'traditional' bank financing) is likely off the table for now. 

Out-of-state investing is a top choice.

This is a firm that traditionally builds singlefamily homes.

I have funded 7 deals for this Partner like I said since Feb he will make about 200k that he could no way have made without a TRUE capital partner.. a traditional HML simply cannot do what we do..

@Rick Albert Thanks Rick that is a good point they were MLS properties, my point about the REIA was more so to bring the property in front of the Agents in the group that work with traditional buyers that maybe haven’t had luck finding homes on MLS either due to budget or competition 

If a property is owner occupied there is additional leeway that you have, for example certain laws that would apply to a traditional landlord would not apply to you if the property is your primary residence. 

My mortgage is less than $1000 and I get $1500 in rent, when realistically I could get $1600+.If you can manage to put 5% down and get a traditional loan, your PMI and fees will be less than going the FHA route which will reduce your costs.I don't have a ton of properties, but this is what my experience has been.  

Chris that is why we are JLH capital Partners completely different set up than traditional loan money HML PML situation..

While this term might sound like a positive development, it is essentially a rebranding of the traditional "Price Reduction."