Hi Carlos, In a best case scenario it would be a cash buyer or conventional loan buyer you would need due to the seasoning period of just purchasing the home. 

If you ask most small-time NNJ investors today, they are investing for appreciation and are OK with breakeven scenarios on the cash flow side, which is risky even for a stable market like the NYC metro area.

Yes I did a lot of various scenarios to understand the risk and I do agree AirDNA is not 100% so I also added more conservative data. 

Even in this scenario I think there are deals to be done, as long as you buy for the right price and employ the right strategy that will allow you to cashflow.

In both scenarios, I will use the equity in my first rental via HELOC to either cover the conventional loan's down payment and fund the rehab or to fund the hard money down payment and meet the reserve capital requirements.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

I am convinced that rates will need to hold relatively where they are as a best case scenario.

However, in that scenario is you can compete on price even 5% cheaper you may win.In FL - Clean and comfortable interiors with awesome backyards do much better than awesome interiors with blah exteriors.Obviously to have it all is the best, but dollar for dollar exterior amenities in FL have a higher ROI.

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As For FHA, first off you have to be primary so this strategy implies you're living there for 12 months and paying the mortgage, that is a completely different scenario.