If you are in the Tampa area and plan on purchasing there, I highly suggest you connect with @Josh Green.

While this is a great and highly motivating goal, most people are either clueless or incorrect in their belief as to what is required to obtain this “lifestyle”.Understanding of the “how to” get there is further obscured by the misleading, and often patently false “pathways” sold by real estate educational MARKETING companies as workshops, upsold to association memberships, upsold to mentorships.

I always carried high deductibles and insurance was more about catastrophic events.   

I also don't want to focus on one market, and not be able to score the right property for who knows how long, and then end up missing out on other locations, as being a long distance land lord is very popular as well.

Also I have not worked out the financing yet. if I just use my cash then the Cash on Cash drops to 8 or 9% and that would be below my Cash on Cash target.Generally speaking and of course just numbers I picked out of the air for reference when running numbers in my head, I am looking for Cash on Cash greater than 15%, high probability of long term occupancy, and no expected major Capex for 2.5 years after purchase and purchase time repairs which I would add into the cash on cash evaluation before pulling the trigger.So there are some more details to be worked out in my head but being it is my first one and only learning what I could from youtube videos I thought I would get some feedback.With all that said, in my head it seems like it could be a good start.Thanks again Jaycee and Gavin for your feedback.

I searched for a few months and ended up buying a rent-ready, duplex in Brookhaven, PA.

I am in Florida and we have a strong STR market and most of my buyers bought at high rates and using AirDNA we were pretty spot on for the numbers and we were successful in being profitable.  

Achieved by buying low value residential housing and turning into high value tourist accommodation for Short Term Let (STL).

Tossed around quite a bit and it isn't what it once was, but the value is still very high based on past performance and brand recognition.

Your credit score is high enough to get something done, but whether or not that delinquency will fly is going to depend on the lender/underwriter.