I don't know Lee but ever since James Madison wrote his portion of the Federalist papers, liberals have never changed.

Unless you're using "Miami" liberally and mean up North or on the very outskirts....

You could hit the jackpot or you could have a run of bad luck.Turn key rentals can be crummy properties that have been shoddily fixed up and are being sold to naive investors at inflated prices with a promise of inflated rents.

CAPEX: 180/month (2160/yr) - because its slightly higher than the BP book recommendationIt may be important to note that these investments would be turnkey Do these numbers make sense or are they too liberal?

Sure, you need to share some numbers with investors, but they should be liberally sprinkled with disclaimers such as, "No guarantee of future results.

Its also a fairly liberal area politically, though its surrounded by a predominantly red state.  

And, @Sam Grooms - note how people enjoy the high road, big picture, broad strokes...Ben Leybovich's liberal arts approach to teaching :)

Checking the local liberal, and conservative news websites could be a good insight on the local community and get a overall perspective. 

Because of their nature, the FHA loans are inherently risky (high loan to value, inexperienced borrowers, liberal income guidelines) and because they are riskier than say a regular conventional loan at 80% ltv, the mortgage insurance is higher (significantly higher) and doesn't go away like it used to.On the other hand, for a first house that will accommodate up to 4 units, I say FHA is the way to go if the rents qualify.

OB no longer has the feel of the liberal, cheap, small surf town (which I loved).