Unlike Vegas, where tourism can be hit-or-miss depending on conventions or events, Florida’s Panhandle delivers steady demand every season.

Also, I personally wouldnt cash out refi right now just because the interest rates are high but thats just my opinion and it really just depends on the numbers if you want to make a calculated decision. 

It depends on non-SEC 8 market rents for similar properties, the utility estimate for your property, and the tenant's income.

Today we are economically diverse and showing job growth in several sectors.Having said that, I am not an economist (or a fortune teller) so these are just my thoughts after having gone through the Great Recession and knowing how housing-dependent we were then.Melanie

Depends on the lender.If it has yet to go to foreclosure and you are trying to buy it prior or at sale - the answer is a hard no. 

My bookkeeping practice pays me active income, so my priority is equity.For debt loans, you will see 10-15% annualized, depending on your experience as an operator.

A phase 2 may be required depending on the outcome of the phase 1.  

It will all depend what you feel comfortable in terms of budgeting and the type of repairs needed.

For instance, depending on your location insurance costs could be much much higher than indicated in the book, construction costs are a lot higher, etc. 

If the title company requires that you become the Manager of the spoke LLC, you would have to amend the Operating Agreement, and, possibly, you will have to amend the Manager of the LLC with the Secretary of State (depending on the State).