So its really all depends right.

Places like San Antonio might present more favorable cap rates, from what I read in Forbes recently.Refinancing could free up equity if today’s loan terms are more attrative, though that depends on current interest rates and the property’s updated value.

The answer to your question depends on the opportunity you have with your property.

Some examples:Section 8 typically covers 80% of the rent (depending on tenant income), with tenants responsible for the remaining 20%.

I can suggest some other areas as well depending on where you guys are looking. 

To get a 3/2 with a pool in Naples you're looking at 550k+ in a decent area where a STR would thrive, in Cape Coral its closer to 400k+ depending where in the Cape the house is located. 

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Hey @Matthew Ferguson ...That depends if you're thinking of going the LTR route in the city of St.

Not a silly question at all but the answer depends on a few factors.

Lending options will look different depending on your answer.