@Koen BallantineI'm not quite sure if you are talking about a house for yourself, or an investment property.  

Sharing your experience is one thing, but giving legal or tax advice is quite another.  

With tremendous equity, positive cash flow, security against the property, and a pre-signed quit claim deed, a PML answering the call to action on this one could receive good short-term gains!

The sales rep that sold it to me quit just a few months after close. 

Think Dallas may be quite red still, not sure what Charleston is.

Crosby as well (from what I have read).Prices are still quite high so you have to buy right and in the right area in order to stay profitable.

There are sections of Dunedin and northern Clearwater that are Unincorporated (and therefore legal) that will be quite close to Tarpon and be a much better investment.

If they do not, I submit it's quite easy to do an internet search to find out what restrictions there may be in your state.

Every investment loan I've ever seen makes you sign quite a few docs at closing stating that you will NOT occupy the property. 

Once you take those off the salary, it drops quite a bit.