The 350k will earn 15-20k/yr recouping a good portion of the gambled amount. if that works out do it again.

If you're OK with a gamble for higher % gains, that's what we have done with a big chunk of our cash.

It is fairly easy to note the age of the water heater and then figure $1000-1500 each for replacement. 

There is also a fair out of traction you can get by some deals that could be quick flips/wholetails that are on investorlift ...dont be afraid to offer 20-30% less than what people are selling properties for. 

Note, Jacksonville FL is the largest market (area) in the nation and fairly nuanced.

Do you have any plans for value-add projects or are you looking into something fairly turnkey?

I have done my fair due diligence on redeemable tax deeds here in Georgia and have just a few more needed questions.

I recommend you print, study, and highlight the HUD guide: https://www.hud.gov/sites/dfiles/PA/documents/HUDAsstAnimalN...You should also check with a local HUD office to see if they have any additional guidance they can provide you.Keep in mind, not everyone is subject to Fair Housing requirements and you may be exempt from allowing the ESA! 

Those rate ranges all sound fair. 

I've found it fairly easy to work with government entities in this niche when it comes to asking questions about title issues.