Learn about local zoning laws and building codes.

I assume these areas have strict zoning, permitting, and design codes, along with requiring state licensed contractors to perform electrical, plumbing, and HVAC which would increase costs.

Ideally, I'd like to run a strictly mid-term rental operation, though I'm open to short-term if it make sense given the regulations here.

However, if some carrier is providing this type of coverage, then they better have very strict limitations on the coverage so claims don't get out of hand, or they probably won't be in business very long.

If you don't have a tax professional already that you can trust and rely on to dive into the weeds on this stuff with, that is most critical to your long-term success in using the tax code to your advantage. 

get more micro. we define a zip code as a market. there are about 7 zip codes in the city of columbus that we work in as well as about 15 in Miami. we look at the average housing unit delivered and try to develop under the median and average home or condo where there is a lot of absorption. that is mostly through smaller Floorplan design, smart floorplan design, etc. new construction and development you also have much more control over the overall development just my 2 cents. if you are just buying existing it's going to have some issues 

The parties acknowledge and agree that neither party shall have any liability or obligation to the other with respect to the matters set forth herein unless and until a definitive PSA has been executed and delivered by both parties.ConfidentialityThe parties agree that all information exchanged pursuant to this LOI and the negotiation of the PSA shall be kept strictly confidential and shall not be disclosed to any third party, except as may be required by law or as necessary to obtain third-party consents and approvals.We trust that the terms outlined in this LOI are acceptable and look forward to your favorable response.

If I am correct, does anyone know where this is in the IRS code? 

conversions can be more expensive than new construction sometimes. maybe they can do a studio conversion as a start and make it smaller. there are a ton of strategies and structures but start by studying the market for 2 family properties and getting to know the miami zoning codes. you are the expert not them. ask for compensation 

What do you guys think are the best zip codes in south Florida for fix and flips?