As others have stated, you have not provided enough information to determine whether this is a good deal or not.

Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

Before buying or renting in an unfamiliar neighborhood, you should check the following two sites: SpotCrime, AreaVibes,These sites provide valuable information, including Livability Scores, which cover aspects such as crime rates, employment, health, housing, schools, shopping, and more.well, anything can happen anywhere.

Private money lenders or construction loan specialists, on the other hand, are faster and more flexible, though their rates and terms will likely be less favorableFor a more rural area, local banks will almost certainly understand the market better, but connecting with private lenders who specialize in spec homes could provide more agility.

This method provides an indication of value based on the property's rents.

Both of you provided important information.It's true @Jason Wray that Florida is always a hotspot.

Using a HELOC can provide you with the necessary capital at a lower interest rate to fund your next projects without leaning too heavily on hard money lenders, which can eat into your profits.Here are a some actors that you would want to consider:1.

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

These areas can offer great opportunities for investors, often providing better cash flow and lower entry prices compared to LA itself. 

Those work well and you can also get them that work off a cell phone provider; I used to have one that was US Cellular enabled.