That is classic......good for him!

I'm not sure I'm reading the question correctly because I can't see any cons.As long as you can personally afford it since you'll be living in it, which the lender will ensure of course (that you can afford it), I think it's a great way to start out in real estate.As long as it's habitable (to your standards ;), you'll be able to really "get your hands dirty" with some repairs (even if hiring some out) but without the stress of having a tenant bothering you asking when the repairs are going to be done.Again, maybe I'm not understanding, but this seems like a great & classic "sweat equity" way to get started.

Miami/Homestead is very much like the classic Washington D.C. scenario, where 30 mins south of Downtown Miami, you get to the suburbs and prices for homes similar to Stafford, Woodbridge, Manassas, etc in Virginia. 

Hello BP,I am an investor and Realtor out of KW Classic Properties office and it is great to be apart of this site.

Classic bait and switch. http://www.bizjournals.com/losangeles/news/2016/10...http://www.ocregister.com/articles/classes-733381-...Save your money. 

It is the classic debate between some money now or more money over the long term, also it will depend on the rate of return if it is low it might be better to sell and invest the money elsewhere, if not it is probably better to hold.

Classic flip and yes they were classified as dealer sales. 

Spot on @Emily Lopez, For @Ricky Bansal it's the grand finale of a classic house hack.  

In the meantime would anyone be interested in meeting up at classic bean in fairlawn plaza Saturday morning for coffee? 

You could leave the GPR at classic level until the unit is out of reno, and I don't see much harm in that if you are a long-term hold guy.