Since you’re committed to staying close to family, I’d suggest focusing on properties that might need a little work but have potential for appreciation in your market.

Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.

This translates to high rental demand and potential for appreciation.Diverse Opportunities: From bustling metropolises like Miami and Orlando to charming beach towns and vacation destinations, Florida caters to a wide range of investment strategies.

I'm trying to Figure out how to make this potential deal work.Seller wants to sell but not right away because they still use the house for some income. 

It’s easy access to the other neighborhoods   Lots of potential development space for bars and restaurants   Lake effect brewing is dumping money into a brew pub.  

Are you currently working on lining up funding or looking at potential properties yet? 

Those are great areas with solid potential.

@James Wise gonna have to disagree with the "lie cheat steal" concept regarding residents.Any resident has the potential to be less than desirable.

A potential challenge with a HELOCs is they are based on the current appraised value of your home, not the improved value, so you would need to make sure you have enough accessible equity.

Certainly from a capital raise perspective, $5 -10 million is a reasonable amount.That being said, raising capital for a blind pool fund is much more difficult than raising capital for a syndication where the property is already identified and the potential investors know exactly where there money is being invested.