We just fixed up the house and have it on zillow with several applications in 24 hours. 

While you're double-checking your numbers for the 17th time, a pro already locked up the property, negotiated seller concessions, and lined up financing.The real question isn’t "What surprises new investors?"

You didn't mention the higher Florida insurance costs. 

We started construction - the building frame is up and now I get a stop work order from city.

I have saved up some money but my goal is to save up at least 20k in a year before I start looking for options on house hacking in a duplex.

So make sure if you also want to collect last month's rent up front to not get burned, document that!

Quote from @Andrew Steffens: Without pulling the same report for ours I can say we are pacing about 12-15% up 2025 over 2024 in Tampa area. 

Most folks start as leasing agents and work their way up from there. 

One of the biggest problems that can crop up with a wrap is that the first mortgage holder is alerted to a change of ownership via the insurance policy update, and calls the mortgage as immediately due in full.

Have you found that secondary markets in your area are holding up better than the big cities?