The area has certain advantages like shelter from regulation risk (pretty much as low as anywhere in the country if you buy in the approved STR tourist zones) and long term security (people aren't going to stop going to Orlando anytime soon). 

We have also toyed w/the idea of buying/moving into fixeriuppers and selling every 2 years. 

so: buy a house. 

You can find decent SFHs in the $150k-$180k range that can cash flow if you buy right.The challenges?

Investment Info:Single-family residence buy & hold investment.

Once I've completed these initial projects and built up some capital, my long-term goal is to transition into buy-and-hold investments in potentially more affordable markets to maximize cash flow and scale up.Right now, I'm particularly interested in investing locally here in the Seattle metro area.

I would never buy a home in a flood plain. 

I would also add, a contractor that you can buy materials for and they know how to put them in with little to know direction (reduces the management time of the project).

Since your an estimator are the materials and labor based on facts (i.e. hard costs a labor units) or a guess.Nothing personal but I wouldn't consider anything you wrote there, if I was buying I'd do my own estimate/SOW. 

When buying sub2 you get the deed in the trust name with you as trustee.