Brokers will often quote cap rates based on pro forma calculation where they assume improved rents and reduced expenses and those cap rates will be greater than current because their pro forma NOI will always be better than the trailing NOI.  ...Reminds me of "lies, darned lies, and cap rates"

There’s a lottttta great markets in Florida, up & down the state.Here’s a great summary, courtesy of the amazing @Avery Carl, of the kind of numbers you can expect on the Panhandle (including complete pro formas).

If you find a fixer upper that is going to be too much trouble with conventional financing or a seller really motivated by cash offer that would be the tool to reach for, otherwise use your other tool in your belt but making sure to keep whatever tool you end up using updated in your analysis and pro-forma. 

As I understand it, once you form a valid entity in the US, with an EIN and bank account, then you would have access to a commercial loan.

You do not indicate the number of bathrooms or square footage, but I suspect 2 times that amount will be closer to reality (my pro forma would allocate even more). 

If you try to turn this over to investors and you have a deal that has terrible numbers, those investors are going to form a negative impression of you from the beginning and you may lose them from the start.Good luck!

I would suggest putting together a pro forma/budget.

I expect rents will increase 7 to 8% this year and have been using 4% in my pro forma. 3% increase for a 2 year span is below market increase.  

So my two cents is that it should be priced via pro forma and a fair cap rate as any commercial property would.

Even a great spot for airbnb.Monthly Income: $10,216.00Monthly Expenses: $5,545.46Monthly Cash Flow: $4,670.54Pro Forma Cap Rate: 12.43%NOI $129,000.00Total Cash Needed: $80,825.20Cash on Cash ROI: 43.45%Purchase Cap Rate: 20.21%The question is both of us have smaller deals and cash flow airbnb long term but never have partnered up, and would like to know if anyone could give advice as a starting point?