The renter doesn't have renter's insurance to cover a hotel stay, but the house isn't in bad shape and very livable.

But, when it comes time to put the deal together and pull the trigger: work with a seasoned real estate attorney with experience in structuring seller carry deals and writing thorough docs that cover your interests, especially with the "what ifs?"

You can set up searches and get instant alerts, as well as open the app to see what's for sale around you using GPS.Keep that investor mindset when buying your primary residence and make sure if you want or have to move sooner than expected you have exit strategies in place such as buying something that will rent and cover it's own mortgage.

You have to really know what you are doing and cover your behind with documentation if you want to try this.3.

I have been able to find companies that will cover real estate portfolios on one policy in other markets but no luck in the Florida market.

These have short maturities (typically 3 years) and that means that the timing for a sale or refinance is fixed, and not far enough out to know that you have plenty of time for a market recovery.Evan covered the rest of it well.

Get as long of a mortgage as possible (eg 25-30 year mortgage) to make your payments lower.If you are buying to rent it and won't be living in it, you need 20% for a down payment.Either way, you also need money set aside for closing costs, inspections, repairs and maintenance...and if you are renting it out to cover vacancies.

For both tenant and landlord peace of mind, the property had an extensive video surveillance and security DVR system already installed by the prior owner, which covers outdoor areas and indoor common areas and records 24/7/365, as well as sensors for excess dB noise levels.

Adding a 5-10 unit will increase your expense exposure initially until you raise rents to cover costs. 

Hey @Lotus Eli, @John Underwood covered a lot of it, but it really depends on the area.You need to do a lot more if the area doesn't have something else to offer.For example, the big potato.