The insurance is higher along the coastal areas because of potential hurricanes but not bad the further north you go.  

THEN, I plan to purchase the second home using a FHA or conventional loan (3%-5% down), for which I will likely pay the monthly cost out-of-pocket, maybe with some rental income support if it is a duplex.My concern is, I do not want to spend my savings or weigh down my debt-to-income ratio so much so that I cannot qualify for and pay the down payment and closing for the lending on the second home.Questions: - With the first home being multi-family, 75% of the rental income (or potential rental income initially) will relatively either maintain or boost my debt-to-income ratio from lenders' perspectives, right? 

Look for properties with high cash flow potential, good condition, and room for improvement, such as value-add opportunities.

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

The QI will facilitate the transaction by holding the proceeds from the sale of your New Jersey property and using them to acquire the replacement properties in Florida.Make sure to follow the 1031 exchange timelines: you must identify potential replacement properties within 45 days of selling your New Jersey property and complete the acquisition of the replacement properties within 180 days.  

A lot of qualifying questions for any potential tenant.Having said the above, I ask for some "standard" things, such as the names of everyone who'll be living at the unit.

Expand your network, educate potential investors, and leverage social media to increase your reach and influence.

Happy you joined the party.. how soon do you plan to start crunching numbers on a potential deal?

In efforts to get more experience with IOS, we are seeking a financial partner that potentially has experience with this asset class. 

Underpriced, underperforming, value add, 20 units, cash flow potential, low risk How did you find this deal and how did you negotiate it?