If not, I would not commit 120k to a condo if that is all your cash. 120k condos are going to be hard to find with appreciation, but the more you focus on cash flow, the more likelihood the HOA is struggling (low HOA, low maintenance, low priority).You have to figure out what the best asset is for 120k cash and where.

In the market in which interest rates are still “affordable”, and demand is strong, it is likely that sub to or owner financing of a free and clear property would only take place if the subject property was not financable or the seller wanted a price significantly above market value.These type of transactions are significantly more prevalent in the commercial real estate world, especially when the subject property is a “special purpose” property like a marina, golf course, church, or event center.  

Considering that, may be wise to hold with what you've got until you resolve those issues and see what money you will have available to commit long term without risking a cash crisis if you use your available funds and then find out you have a $50k problem on your hand with the mid-term rental.   

The prevalent gang in that area is the orejon (sp?)

Also, in the right areas in Tampa it seems that a STR could be great, and my fiancé does have enough free time to cover the extra time-commitment a STR would require, that part wouldn’t bother us. 

I am looking to acquire my first rental property in 1 year and make real estate investing my full time commitment in 15 years or less.

We understand that every property has unique needs, and we're committed to providing you with the customized management plan you deserve.

Second, the renovation/construction budget is usually structured on a draw schedule, where the funds are held in escrow and released as work is committed.

You have a high-earning job for a 19-year old so keep banking the money and don't commit to a property out-of-state until you know where you are going.

so I read even office syndication that has 95% occupation and met their projection (they are good operator because they use fixed rate) can't sell their asset because buyer is available but bank doesn't give commitment.