in cash flow would cut it for me. i'd want enough to cover the mtg, but also R&M and a little for vacancy. if i can't do that plus have a little actual "cash flow" left over.... i'm still here :) if that's any indication. 

Just remember, it's a challenging journey that calls for commitment, determination, and a mindset that's open to growth.

And as others have posted, make sure you are using a good title an escrow company to facilitate this.

Don’t have the time to do property management right now however as I have a full time W2 (accredited investor) and a family to raise. 

It sounds like you've got a solid foundation and a great game plan, especially with your background in North Padre and passion for fishing, which could really set your STR apart.

A fence or a drive way is 15 years and a major appliance 5 years. 

This kind of community is designed to attract certain individuals that share the same values for the outdoors, smaller living, and a healthy community. 

Will rent for 1750/month.Capex items needed soon: roof, water heater, furnaceArea: A area, appreciation is at about 5% a year but average home price is ~$500K so this home will appreciate faster, this will have multiple offers on itDeal #2 - mixed use, small office with a 3 bedroom and a 1 bedroom over it.Ask: 325KCurrently fully rented on one year leases, bringing in 4775/month but only one tenant pays their own utilities plus owner is responsible for snow removal and landscaping. 

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit. 

I'm in the same boat for reference- I bought into the "buy now, refi later" idea and am sitting on a 7.375% on my latest property acquisition and a commercial line of credit I have is at prime + 1 (so 8.5%).