Don't buy in the roughest neighborhood in the urban core.

Neal Bawa and John Sebree made some compelling arguments however Jamie Smith and Jilliene Helman made a stronger case for buying more than you sell. 

@Greg DickersonIf I were to frame metal 2x6 walls along all the concrete walls and core the holes for the plumbing / electrical rough ins why are my construction cost going to be 30-40% more?

We have considered the 1031 exchange or a partial but Destin is a hard core sellers market currently and anything we would exchange for would be at its near record level with no room for building equity or profit.

The core demographic is traveling nurses and folks in town as corporate travelers. 

It definitely can be a huge waste of money, especially if you don't have a solid list, create a compelling message, have a way to close the leads, stay consistent or track the results.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

I won't go with the riskiest opportunistic strategies, and will stick to core and core plus mostly with some value-added.

So unless you're able to get a great deal and get instant equity, I just don't see a compelling reason to buy here right now unless you're banking on appreciation. 

If you provide anything in addition to the property being leased, and they can argue your negligence damaged their property (i.e. leaving an old refrigerator in the unit), they can make a compelling case that you're in the wrong when eviction time comes around.