@Nate Marshall, thank you for that tip.

So you have to spend a significant amount of upfront money to remodel and often times build a pool.

Which makes it a good candidate for medium term rental, it includes a pool and tiki bar as well We r planning to buy another primary Residence under both our names or my wife's name  using FHA .

Any tips? 

Hey Renee,Pros include guaranteed rent payments from the government, a large pool of potential tenants, and potentially lower vacancy rates.

I’ve seen landlords successfully sued for large amounts due to refusing to remove dead trees resulting in injury; not complying with swimming pool enclosure laws; having window frames in such bad condition that window ac units fell out; refusing to disclose existence of toxic mold; not eradicating lead paint; and many more.  

You will connect with so many great people and get tons of tips and pointers.

Pool was close behind in most categories. 

Any tips or strategies would be greatly appreciated!

Ask if they take debit cards and credit cards or must you write a check, The way I am comfortable with paying is payment for the job x amount, payment for the decorations according to a gross budget for everything, as they are purchased vs giving a pool of money to draw from.