Nothing crazy at the moment but I'm planning to gradually bring the rents up to a market value over a few months to increase the cash flow

None of the traditional single homes come with set up so you would have to modify, either room by room gradually or everything at once.

The plan is to gradually raise rent to market value, when the tenants move out I will renovate each unit one by one.Unit 1: Current $1,180 Will go to $1250 when I buy.- 4 year tenantUnit 2: Current $1,130 Will go to $1230 when I buy.- 15 year tenantUnit 3: Current $1,120 Will go to $1220 when I buy.- 6 year tenantUnit 4: Current $1,130 Will go to $1230 when I buy.- 5 year tenant-Utilities: All tenants pay their own utilities (Gas, oil, heat...not water)-Water Bill: $650/Quarterly- Paid by owner (me)- $2600/yr-Taxes: $1700/Quarterly- $6800/yr-Home Insurance: $2150/year-Flood insurance (needed): $2001/year-New roof 2013-New hot water heaters-New electrical-Mortgage info: -Purchase price: $770,000 -20% down: $154,000-30 year fixed @ 3.708% (**Current level)-Total mortgage payment (including taxes, ins, etc)= $4,004.24/Month-Total income from rent= $4,930.00-Cash flow: $925.76/month 

My perspective on investing remotely is that I will probably not do it optimally the first time, but I will gradually learn what I need to know from the practice to get better.

So the goal is to gradually increase rent at each tenant turnover.

This is my day job, and it's been both horrifying and interesting watching our healthy capital markets gradually deteriorate into a Michael Lewis financial disaster book. 

We also hope to gradually get into buy and hold investment properties in the local area.I'm looking forward to learning a lot from what this great site has to offer - I'm already addicted to the podcasts!

However, I think you may be able to make a small profit if you don't have to hold it for too long (note that in Lake Mary, the stats show that the DOM has gradually increased over the last 3 months and with summer coming to an end, it may slow further - still healthy selling though) and get most of the work done by yourself.  

FHA has been taking a lot of losses in the mortgage insurance fund over recent years, so they've been gradually bumping the MIP premiums to compensate. 

I bought my first property in 2017, 2nd property will be in 2018 and by 2019 I want to be buying 2-3 properties a year, gradually moving up in value and into multi-family.