The difficult part isn't finding that property; the difficult part is finding quality roommate tenants and having good systems for screening, setting up rules and maintaining your future investment to achieve the best results. 

I think these are red flags when agents say this: "it's close to the 1% cash flow rule", "it's in an up and coming area", etc.

They could very easily change the rules after you buy and tell you that you can't rent it out and the unit must be owner occupied.

Always a wise move to look for a turnkey provider offering properties at the 1% and up rule with in-house property management as well.

Be sure to refine your deal analysis by focusing on cash flow, the 1% rule, and cap rates to ensure solid investment returns!

I know CA has a lot of rules/laws but in FL to start out I would incorporate, get EIN, get banks set up and then you are in business.  

Hi Alex,You're correct about the 2 out of 5 year rule.

A good rule - as long as the plumbing and electric has been updated, a well-built home from the mid-20th century is a better investment and will likely outlast a newer build.Credit to the respective author

Good luck I appreciate your straightforward advice—it really helps to simplify things!

Most landlords have a 3x rule on income which means at 3k a month for your rent, the tenant would have to have an income of 90k a year or more.If somebody was making 90k or 100k a year, I gotta think most of them would likely be buying a home instead of renting.