It got rented in the winter time after about 3-5 weeks on market. 

I currently work full-time in the medical field for the past 20 years which limits my time.My goal is to move to the Tampa Bay area to be closer to family and get away from winter with REI being full time or supplement my income.

I'll add I'm in Colorado and our market is very hot right now so I'm not concerned about getting stuck with an empty unit in the middle of winter. 

As @Marc Winter has already pointed out, it is unwise to sink a bunch of money into rehabbing a property you don't own, not to mention the various other problems Marc mentioned such as insurance and permits.A better way to do this is to take title subject to any existing financing and give the seller a note for the balance due in 1 year or upon resale of the property, no interest, no payments.

It's too simple and tells you NOTHING about the future... which by the way, even a Squirrel knows about the future since he has to put his Nuts away for the winter or he may starve.So, we really ALL... that means all the readers of this posts and everyone on BP and every Investor whether or not you are a RE Investor or Stock Investor..... learn IRR.

You should take into account the expenses that go along with it, taxes, insurance, are you going to keep the utilities on you will need heat if you don't want pipes to freeze or you will need to winterize the property, if you are financing you will have those costs.

I've had response rates around 4-5% with hand addressed letters.I quit sending for a while, but I'm thinking about starting back up this winter.

This worked well for us last winter.      

We are moving to get out of ORegon state tax burden.. and get out of the northwest winters... which suck.. and I don't gamble but I certainly like the night life there.. and with all the pro sports coming that's great.... will see.... as long as there is water ..

I'm renting out a couple rooms for the winter season to a couple friends, while I figure out what I want to do with it.