The absence of a state income tax and landlord-friendly regulations create a favorable environment for rental property owners. 

In your case, you are probably better off buying a break-even deal in Tampa then a deal with $200 cash flow OOS.

You need to have a solid goal (write it down) to buy a property of your own.

The fact that you have a TAX-FREE income is crazy good.  

Not sure if they called off the sign, or if they still have the listing up on their phone and find the number to call from there. 

The long hours and dedication will pay off as you learn the ropes and prepare for your first investment.

@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.

That means creating a clear budget, forecasting cash flow, and maintaining a detailed financial model that tracks both the current and future performance of your portfolio.Tax Optimization & Risk ManagementBeyond financial clarity, strategic tax planning and risk management are essential to safeguard and grow your real estate investments.

This means having to take a chance and take the property off the market for 2 weeksOption 2- Accept the offer with a provision that allows you to continue to market the property, knowing that there's a chance FHA may not fund the deal. 

., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.