Some of this may have been grandfathered in, but now need updating.I would pay the extra say $50,000 to have an Engineer firm go over.

lived in Ocala few yrs ago.

I don't do this for a living and have no real world experience, but at 40% down, even with a 7% int rate, that seems like a high monthly payment.

I've personally done just about every rehab scenario, properties I've lived in, properties bought as investments and even properties bought at auction.You've gotten good advice from folks on this list.

The people within your subdivision may sell the house for you, as they may have family/friends who want to live close to them, and people are always intrigued by new construction in their neighborhood. 

First, estimate what the renovation would cost, how long it would take, and how much extra you could potentially sell the property for once it’s fixed up.

Early on in my career, I saw a close frend do something similar.. she borrowed from her circle to finance a rural fixer-upper, then paid them back once she refinanced after the rehab.I’m guessing that massive yard plus the barn is already a big selling point for your tenant, especially with a family that wants a little extra room for animals.

This would obviously reduce my cash flow on both properties, as I would be paying the minimum HELOC payment plus extra towards the principal to pay it off quickly.

Having a long-term rental while living abroad is do-able.Flipping houses while abroad, in my opinion, more difficult, especially if its your first go around with real estate.I would recommend taking a flight and staying in the area for a week and inspect the neighborhoods and make connections.You can reach out to @Elenis Camargo who has a PM company in Jacksonville.Best of luck though.

That’s because the longer someone has lived in their house, the more that home’s value has grown, which directly increases equity.And if you’re one of those people who’s been in their home for 10 years or more, know this – according to NAR:“Over the past decade, the typical homeowner has accumulated $201,600 in wealth solely from price appreciation.”The Benefits of Having Home EquityWhat does that mean for you?