@Nicholas Stout S8 rents are set by the number of bedrooms, that's pretty much it.The HUD guides are just that - guides!

If you’re set on Florida, focus on areas just outside the main city that are still growing—you’ll find better deals there.

I know there is of course no set rule out there but just curious on folk's experiences.Also curious to know folk's thoughts on what the CONSERVATIVE median $/sq ft for the Los Feliz / Silverlake area on LA is.Thanks all!

A home (whether primary or investment) in my eyes is considered as a savings account once you own it - a store of wealth. 

I think you bring up a good point of considering offering higher returns to investors if I have to begin to search outside of my network.But my original question from the post still remains, where would you recommend I search for people interested in an opportunity like this? 

You can talk to the bank about a loan; however, my bet is they will want some form of contract and scope of work and will only pay him at set milestones.

Other Strategies: Are there safer or more profitable alternatives I should consider? 

Turnkey or close to turnkey would be nice, but willing to consider a fixer upper for the right opportunity. 

If the seller insists that you close immediately, you can consider the Reverse 1031 Exchange. 

If you go with electric, you might want to consider looking at mini-split units for HVAC.