That HE loan would make you cash flow negative on the first property, especially considering you are not even factoring in any repairs, maintenance, vacancy or management.

There are other factors that determine what they will pay for your unit and the family who applies. 

The critical factor is whether the property owner can demonstrate that the sale or settlement was made under the threat or imminence of condemnation.

Those factors are more critical in a fix-and-flip scenario where you’re focused on resale to an end buyer.

This is pushing many to look at areas that still offer strong cash flow backed by solid economic factors.I’m originally from Florida, but experienced the same issue after factoring in all the expenses.

Look at the economics / population rates & other driving factors pushing the market into the future. 

I now monitor the owner's equity, return on investment, and other factors and then proactively reach out when they are ripe for selling, exchanging, or adding doors.

I was told that one of the most important factors is the deal.

BPOs are typically exterior only and agents usually earn $30 - 50 to complete them, so use them as a reference but not the deciding factor.                                                                                                                                                                     

I removed our debt (P&I) all other expenses have been factored.