Pros for new construction:Lowest insurance premium, in FL is a big deal.

This includes lenders, insurance carriers, contractors, and preferred property management companies.

@Elizabeth RoseHave you contacted your insurance company?

Looking for a good insurance for rental property.

The problem is that it seems that it will be very difficult to generate even a neutral cash flow given the high HOA fees, taxes, and insurance in Florida.

You might be able to make money, but you have to factor in how fast that trailer will depreciate in value over the long term.I would go for a post-1976 manufactured home where you own the land and can get financing in place since it's insurable.

Internal corrosion in the lines can and will affect the pressure and draining capabilities of the plumbing system at some point in the future.

Making some assumptions on this quadplex it would finance approximately $3000 per month including insurance and taxes.

Cash Flow: Older Property: Yes, an older home might need costly repairs down the road, such as roofing, plumbing, or electrical upgrades.

Build a team of professionals, network with investors, and mitigate risk by screening tenants, having proper insurance, and having reserves.