minimizing free cash flow with larger mortgages or shorter term mortgages takes the cash flow which would be taxed and puts it into the amortization of the loan. 

Focus on cash flow and exit strategies, and consider starting with a smaller project to gain experience and minimize risk.Good luck!

I set up the entities using diff companies and paid about $1000 for all three (I got minimal boilerplate operating agreements).

I’m hoping to not build until I acquire more revenue from profits of the plot via flea market, parking, boat parking, or something else that requires minimal investment.

I am not telling you to do one thing or another  Also, i believe that FHA will not allow renovations to a home unless it’s already livable with minimal to no repairs visually needed but go check.

Or very very minimal.

Consider off-market sales to avoid public listings and minimize tenant disruption, using discreet marketing or a wholesale strategy.

A lot of my clients buying in FL are happy with minimal return but are buying for second homes, tax benefits, etc.I would stick with value add - with refi you can still achieve high CoC and a good equity position. 

Demand for February/March move-ins should see a notable uptick sometime in January, but you'll for sure see your strongest rental demand in late spring/summer.Your most recent post mentioned that you were going to look for someone for a 6-month lease - I think this is a great way to approach it to minimize vacancy loss while biding your time until we get into the higher demand summer months.Getting creative with your lease term and credits/concessions could also be a good way to solve a few potential problems in one shot. 

Since I am married and have school age kids, I place a real premium on minimizing my management time.