It's affordable and offers strong cash flow potential.

Not sure why that happen, however the best way to screen a potential tenant is to see how they have performed in the past. 

What are the potential pitfalls and benefits of each approach?

This approach will help minimize the potential financial risks associated with renovations and working with contractors.

Quote from @Paul Azad: Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective?

I’m excited about the potential of this project and hope it can bring value to the real estate investment community.Looking forward to hearing from you!

Consider places like Riverview, Brandon, or even Lakeland—these spots have great growth potential without the premium Tampa prices.

Today he starts on his second rehab.   3/3 of potential b+ unit in an A- area (pt Loma).  

One thing that’s jumping out to me is how your House 3 has some serious potential once you carve out that above-garage apartment.

Take a good look at potential purchase opportunities and run the numbers, then decide about buying, then financing.