Hi Chris,To add a new fee to your existing management agreements in Florida, you may have a couple of options depending on the terms of your current contracts.If your agreements don't expire and continue indefinitely, the simplest approach would likely be to create an addendum to the current agreement outlining the new administrative charge.

The agreement would outline how profits, losses, and ownership interests should be divided, which will guide how you allocate the gains.  

Columbus has ranked on the top 10 markets that outline that for the past 6 months at least. the best place to buy new builds is in higher priceopint markets but where the costs haven't gotten out of control. besides that I'd recommend working with a vertically integrated land development, real estate development, and new construction firm or design build firm who also understands market conditions. 

I manage about 40 STR's in Pinellas County and the area you are outlining is a good performance area, with the right property of course. 

Caught the flag on the first sentence "given the loan terms verbally" - Pretty much all the "reputable" DSCR Lenders will give out a detailed term sheet / pre-approval letter / LOI (many different names but same thing) outlining terms and approvals early on in the process - the good news is that if you haven't closed yet you can still switch lenders and see if you can secure your original terms - also good news is that the appraisal, while likely ordered by the lender or broker is in your name and your property, so you can likely transfer it to the new lender

Make sure the deposits are transferred and not deducted from purchase price, otherwise you will need to come out of pocket when tenants move out.You should also make tenants and landlord sign an estoppel agreement, which outlines important items and agreed to, so the tenant cannot claim to have a huge deposit later or claim that the prior owner gave him ownership of the shed in the backyard.

Will be able to give you a quick outline on how to value.

Here are the 7 material participation tests as outlined in the IRS regulations:1. 500-Hour Test: The individual participates in the activity for more than 500 hours during the tax year.2.

@Adam Ramsey -Here is a map of District 24 which I believe includes more than the 4th ward, but generally outlines the area where you would need to start being concerned with the type of tenants the property would bring in, or be concerned about housing appreciation because of the surrounding area.

The roof is fine until it leaks, decks are fine until they are not, things wear out, line blockages don't happen overnight they most often are buildups over time until the result IS seen overnight.