A lot has happened since starting, between material shortages in SWFL for a while, a massive hurricane, a period of power outage, damages to various parts of the city (and major damages to surrounding cities), high demand in labor/resources, a transformation in permitting systems, and a boom in construction in general. 

For STRs, material participation rules apply, and STR income is treated as non-passive, allowing losses to offset active income.This post does not create a CPA-Client relationship.

Real material cash flow is basically 50% of your net income.Cash flow is a metric that requires a debt ratio.

The pay stubs can be hard copies or digital PDFs generated directly by your employer and sent via email; we cannot accept screen captures to verify income.Once your completed application materials have been received and it appears that you would meet our qualifying criteria, we would send you a link to perform a credit/criminal background check (this minor expense would be yours), and if those results come back acceptable, we would offer to proceed.

The place where you can add value with no money is a situation like: you find project A, it is a 120k purchase and it should need 80k rehab but you can get rehab done for 65k cause you can do some of the work and you know how to save on materials and you can manage the rehab. 

Yes, you personally aren't living there, but with high crime comes unqualified tenants and high maintenance costs (stolen materials, broken windows, etc.).

You'll want to be clear on the IRS rule for material participation if you do decided to switch to property manager. 

The contract must contain:the contractor’s name, address and telephone numberthe approximate start and completion date, including any contingencies that would change the completion datea description of the work to be performed and the materials to be provided to the consumer, including make; model number or any other identifying information; and the agreed-upon price for the work and materialsa notice advising you that you have three business days to cancel the contract, unless during an emergency you waive the right in writinga notice that all payments received by the contractor prior to completion of the contract work must be deposited in an escrow account

Once I sell that I’m gonna convert to a fourplex and do the ADU.going through cash quickly and also using credit cards when possible like to purchase materials.

Here's a few examples:Does the lender release for materials on site or do they have to be installed?