Note I strive to minimize cash flow because it gets taxed versus other RE return are easy to defer or avoid the taxes.  

Conversely, if new houses are being built frequently, older properties may struggle to maintain their value.Property taxes also play a significant role.

You must keep the tenants security deposit at a bank that physically operates a branch office in the State of NC.  

You might even want to setup a C-Corp (for tax and liability reasons as well) to manage the business with the guests and pay rent to your LLC. 

The rest, put you on near-worthless drip campaigns, don't understand calculating the offer price based upon rents - property taxes - insurance - MNT & Vacancy percentages, etc.DM @James Wise to schedule a chat with him!

I am subletting a property that I am planning on purchasing the set up where instead of any type of security deposit I am re-having the property which is necessary before I rent it out.I will have about $20,000 in expenses all before I purchased the property.

People are going to start thinking about spending their tax refunds in the middle of January.

@tom shallcross summarized this well in another post and just inflate your numbers up for a $665k purchase price and $2300/mo per unit for rent.Borrow 80% which is like $3700/mo for Principal, Interest, Taxes, and Insurance.

Note: Florida charges a hefty tax on rentals under 6 months. 

Finally, check with the Town to make sure there are no municipal liens, Make sure they're on Town sewer, check with the tax assessor to see how many bedrooms the tax office thinks there are, (important if you are flipping) buy ok to have more bedrooms if you are planning to buy and hold.