For example, what would the cash flow be like after you renovate and lease out at the new rates?

Note the property tax will be -10% on the rent by itself.Month 0 to 24: $2450 * 0.5 - $1573 =-$348/monthMonth 24 to 60: $2450 * 0.5 - $1541 =-$316/monthNext issue is due to the low leverage starting at month 24, the ROI takes a beating.  

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Tax law requires it.

@Armell MayersBigger Pockets is a great place to find a real estate tax accountant.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

Anyone using for all or part of your tax needs?

Hi Everyone,I  am a professional wholesaler and property locator, I locate property on/off market, do a full due diligence on title, encumbrances, taxes ect...

There is no current tax on rental income and capital gains.

We did that for about 3 years until Jeff informed me he'd fallen behind on property taxes, and all of his lenders called the loans due.