In today's climate foreclosures are taking a years to initiate.

This is an intrinsically important question that is asked, and rightfully so in this climate, and my answer is always yes.

Mike,IF you can get no money down financing in this climate through a VA loan that is a home run in itself!

I know I'm in a different climate than you, but around here, tile everywhere is all the rage- its cheap to install and lasts until its out of style - tenants can get big rugs at Costco for the bedrooms if it's too cold, and they aren't worried about getting ripped off for minor stains in carpet.

You need an onsite manager to deal with tenants and take phone calls.Depending on your area, climate controlled storage may be needed.

Below are some generalizations about locations and ongoing maintenance costs: Older properties require more maintenance than newer properties.Composition roofs require more maintenance than tile roofs.Properties in climates with hard freezes require more maintenance than properties in milder climates.Properties in locations with a lot of moisture require more maintenance than properties in dryer climates.Wood siding requires more maintenance than aluminum or stucco siding.Properties with lush vegetation require more maintenance than properties with little or no vegetation.SummaryWith hold times in the 10+ year range, you need to think of the location long term.

With the political climate where it is, probably should wait to see how things shake out but it doesn't sound like it is going in the right direction.  

I'm looking at that house as our primary residence but after reading over some of the posts on this board I've decided that we could also get into buying and selling property, florida has a growing economy, especially in my area and it's continuing to grow as new business (2 more japanese shipping companies, cruise lines and more new airlines) move into the area. that combined with baby boomers retiring and looking to move to milder climates.

Right now, I'm leaning toward the Rinnai.My question for BP is addressed to anyone in a colder climate that has either attempted or has insight about heating a two floor unit with a single Rinnai space heater on the first floor. 

It wasn't that hard ( but wet drywall is heavy) and it needs to be done sooner rather than later in hot, humid climates.