In addition, in Florida there is a cap on property tax increases each year of about 3.5% increase... but big caveat...

Cap rate is about 5.5%, but cash flow is less than 100 USD per month.The TK provider is well known here on BP, and they are known to have a decent tenant management.

To me, having one mortgage payment for 2 - 4 houses (basically) always seemed interesting and like something that would give me more bang for my buck. 

I'm assuming you are arriving at your cash flow number by applying Gross income - cap ex, maintenance, utilities, vacancy, tax, insurance, mgt, landscape/snow & Debt service?

This is because there’s a cap on how much someone is willing to pay to rent a home today.For example, even if you own a solid property worth over $600,000, the maximum rent you can charge in my area is $4,000 per month.

What I have learned is that it's nerve wracking to invest out of state, but sometimes investing out of state is a great idea since it could be the most bang for your buck.

You'll get much more "bang for your buck," lower cost per key, and lower maintenance costs per unit.

Everything ,all areas have doubled, tripled quadrupled or more even parts of EAST Cleveland, over the last 10 years on top of the 20-25% net caps All the best 

I have pulled a permit for removing a fireplace, but probably would not have but I had a significant remodel going with permits and did not want hassle of him making an issue of removing the fireplace (the inspection for fireplace removal consisted of only verifying gas cap was in visible location, he did not even spray it).

I've been trying to save up for what could potentially go wrong like cap ex things.