Obviously the HOA is keeping values in this neighborhood down because an owner would have a mortgage plus another $715/mo for the HOA, which only covers use to a community center but nothing else.Besides holding costs, is there anything else I should be concerned with for a flip on a land lease? 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

However, they approach financial health from different angles.The 50% Rule is a quick estimate that suggests operating expenses (excluding mortgage principal and interest) will roughly equal 50% of the property's gross income.The DSCR is a more precise calculation (Net Operating Income / Total Debt Service) that determines if a property generates enough income to cover its debt obligations.Deal example:- Class C middle class neighborhood- 4bd / 2ba single family house- ARV: 190k- Purchase: 105k- Rehab: 35k- Market rent: $1,400-1,525- Section 8: $1,475- Property manager: 10%- Taxes: 125 month- Insurance $1250 yr- HOA: $55 month- purchased and rehabbed with all cash.

For example, a $550,000 two-flat in Albany Park might bring in $2,500/month from the rented unit while you live in the other—covering most of your mortgage.3.

A platform that updates their data daily or weekly is covering a staggering cost in order to provide that to the end user.

Namely, that if a tenant (in this case accompanied by a whole family) ends up stop paying rent and I would be on the hook for both covering the mortgage and dealing with open ended legal costs and time.

You will also discover the warranties don't cover as much as you think, and claims are often denied.Home warranties are so bad that most professional property managers will not manage a property with one in place.

Moves risk to be financially covered by insurance hypothetically.

Invest in Fix-and-Flip Properties:Use the $50K as a down payment or cover acquisition costs for a non-recourse loan (required for SDIRAs).