Maintenance, taxes, mortgage, expenses, etc... go out.You may also want to consider having a “capex & reserves” savings account where you shovel off your monthly reserves into.

Living at the property, you can mitigate potential liabilities (ie make sure the snow is shoveled and put salt on the ground).

I give OP credit because a lot of people gave him crap about trying to do this but also 3 pages ITT and no shovels yet.

I work in software, and we often say when there's a gold rush, sell shovels.

A lot of work goes into the preparation of plans and paperwork that is required before you can even lift a shovel.

@Rick Oaks what part of FL are you in? 

Older properties are cheap for a reason.Believe me, I'm really not a fan of crawling around under a house so low that I have to take a fold up shovel with me to dig paths under the floor joists.

As of Oct 2023, CA & FL are very difficult to place coverage besides working with the state funded plans.

@Hai Loc blue collar town so yes they know how to use a shovel. :)

It's hard as an out of town rehabber to do this but being local we try to figure out who the helpful neighbors are and kiss their behind to keep an eye on the house - we will cut their grass once in a while, shovel their sidewalk or whatever to keep them looking out.