Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

.: This forum is a cesspool of misinformation and negativity when it comes to notes.

Given current interest rates, I don't want to be cashflow negative so I will likely be leaving most if not all of my renovation money in the deal.

Its better to buy assets that will appreciate ( historic ) and be break even or a little negative. 

I am not an expert in either lead or FHA, but here are a couple thoughts for you to look more into.By lead in the unit do you mean paint?

I have not heard anything negative about his PM services

Which leads us to:2) Are you 100% positive that a) an STR, b) in Florida, c) right now, is the best place to put your hard-earned equity?

Find one that can be custom to your needs, has flexible pricing, no long-term, high-cost memberships, and excellent customer services to determine how to best market to your leads.

The more lead credits you purchase at once the more you save.

Site cleaning may be the single most underfunded line item on construction budgets which often leads to dangerous work sites.