Nowadays I have a roster of probably 30 vendors that I can reach out to (and sometimes I blast through all my options for a particular problem).The biggest challenge is find good handymen for doing low hanging fruit (fix outlets, fix sink, change light fixture, spackle/paint).

This is the sum of purchase price plus rehab dollars plus the 6 months house payment money plus a 10% to 20% emergency reserve for unexpected extra rehab costs popping up in the rehab process If you don't even need to use to 10% to 20% emergency fund then the loan reduces at the end and you don't borrow it.Example :  purchase price = 100,000 + 50,000 for rehab and 15,000 for reserve and x months of piti= 165,000 so 3.50 % down is then $ x5775.00HomeStyle is an alternative but on a 2 to 4 unit it is 25% down.

I really enjoy the discussion and actually having an outlet to think out loud and get feedback of those thoughts from experience.

You need a good source for local landlord tenant laws, a  reserve account for the unexpected, setup a payment tracking system, find a handyman, set expectations with your tenant about what constitutes a valid emergency, have the tenants sign a "walk through" list with photos of the condition of the house, make sure they have renter's insurance, 

I live in Vancouver (Washington:) If there's anything I can do to help you out, let me know!

@Tony Sawah I would be careful about overextending yourself and not having any money saved for unexpected emergencies or extended vacancies.

I don't think the rehab will take 6 months but I like to plan for the unexpected.

Buying at top of the market with no track record of knowing what to do "when" not "if " unexpected expenses pop up could likely hurt bad.

With an abundance of shopping outlets and attractions The Orlando market is quickly growing.

@Jennifer Osborne, I'd start with Sears Outlet.