In any case, you can do your homework:1.

RE is ALL about math, that's it!

Code Chapter 47 - Fraud And False Statements, which is a very boring read, unless it applies to you.Please don’t do that.Make sure your Proof of Funds source has the funds and that you are authorized to use those funds and the source will vouch for you in court.If you are going to buy “Turnkey” it is recommended you visit the actual neighborhood and actual house before closing.Things can be very different in person.Afterwards is too late.You may not like what you seeGo with the Math, not the emotions or hopes of the futureIf you are losing money with the hopes of making it up later, you should seriously reconsider.Wishful thinking is a poor investment.Interest rates are going upAnd interest rates are going down.And interest rates are remaining the same.There is no clear direction for rates and there are arguments for going each direction – buy so that your property cash flows, even if you are wrong.Ignoring your workers.Always serve your workers pizza on the job.It keeps them on-site so they don’t wander offThey will think you actually care and will work harderYou get to become “one of the boys” and they will tell you things you need to knowHmmm, out of space, but not out of mistakes. 

You can find super affordable homes here below the median home price that beat average rent in these areas.2) If you factor in principal paydown, aka the amount of each monthly mortgage payment that goes back to you in the form of equity, AND the opportunity for appreciation, as Raleigh is expected to grow substantially over the next few years thanks to big corporations and swarms of people moving into the area.... you'll find that the math works our quite favorably for owning a home versus renting.3) When you factor in rate incentives with new construction homes in these areas may be even cheaper.

@Ethan Swat have you done the math to calculate the increased booking volume or higher booking rate is required to break-even on the investment?

cost to sell are going to be 10 to 15% minimum to plug into TK resellers pipe lines.. have you run the numbers  lets say purchase rehab is:PP 70krehab  30k  pretty average in that age class assets in Cleveland ( keep in mind I funded over 300 deals in Cleveland personally in the last few years so I do have some experience in that market).So 100k all in.Cost of capital  2 points 12%  plus your going to need at least 30k in cash to pull this off. lets say your super good at what you do and can do it all in 6 months.2 points   2k  12k  6 months  6k   for total of 8k  HML will hit you with another 2k to 3k in junk fees so thats really 10k in borrower costs.tAx's  lets say 1k for 6 months.Closing costs when ou buy 1,500 to 2kClsoing costs including commish and seller concessions and title and escrow at least 10% Utls and insurance  1500.0010k profit So that all adds up to an exit sales price that needs to be at least 124,500 hard costs and now you need to sell for 130k to 140k to make your profit. and given where investor want to be they want 1% rule or .08   so use 1% for easy math they want that house to rent for 1300 to 1400. 

Jacksonville is a great place to invest as I'm sure you've figured out based on your homework.  

Quote from @Mallory Healea: It's pretty simple math.

If you're considering investing in land, you need to do your homework thoroughly, understand market trends, assess the potential value of the property, and also take into account various potential risks and issues such as ownership rights, usage restrictions on the land, development costs and so forth.

The math isn't gonna work.