But the question is whether one can actually achieve the proforma cash flow on older properties with a less economically stable tenant base.Based on your picture, you appears fairly young.My advice is buy properties in quality locations think long term 10 to 15 years - slowly and safely build your portfolio - equity and cash flow will increase over time and in 10 to 15 years you may become financially free.People talk cash flow is king but one can NOT generate financial freedom cash flow with $250,000 or $500,000 invested (equity).Even at a 10% cash on cash return, one needs $1.2M invested to generate $120K a year $10K a month.You want property to be self supporting so it needs to cash flow but once that is reached the focus in my opinion should equity growth which increases net worth.

You need to make sure you have ample drive by traffic and that the market can absorb the units and how long it will take.

I plan on driving hopefully both areas over this long weekend to get a feel them.

We specialize in driving more bookings and have years of experience.

It is worth it for me between the driving for dollars functionality and the contact data.

I like the idea of starting local since I know the Miami Beach area well, and buying a studio like the one I’m renting feels like a safe first step, so I’ve been looking at similar properties to what I currently rent online and running numbers.

It is a great drive and we have driven it a bunch of times.I just wish there were less restrictions on STRs in so many areas.

Would you suggest working with an agent to start, or focus on other marketing channels (driving for dollars, mailers, pre-forclosures, etc.)?

I remember when agents used to drive people around showing them listings. 

I've been running a vacation rental operation in South Florida for the past 7 years, helping owners drive revenue.