In an ideal world, we'd look to get both, but with today's higher interest rates and rising home values, it seems harder for deals to cash flow. 

But it's also mildly higher maintenance. 

non owner occupied may get taxed at a higher rate than owner occupied.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

In my opinion the ROI is significantly higher in Naples then the Cape.

I could likely see many things from the TCJA being made permanent, mostly procedural items like the higher standard deduction and child tax credit (Plus eliminating exemptions).

You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases.

I would point out that you have a higher end home here.. its not a 70k rental in the mid west were you just squirt some paint on the walls and put die on the carpet etc..

The more you pull out the higher the rate.

In fact, the median sales price of a single-family home in the Austin metro is about 47% higher than it was at the start of 2020.