Also, the proximity to Busch gardens makes it very attractive for your next tenant.

I just finished adding a 2 bedroom basement (Garden Level) apartment to my house.

Have been throughout the county and vicinities(Miami shores, North Miami, Miami Beach, El Portal, Miami Garden, Miami Lakes, Hialeah, Coral Gables, Kendall, etc).

For Miami you're looking at Allapattah, Little Haiti, Little Havana, North Miami, Miami Gardens, Liberty City and the general north eastern parts of the city.

Purchase price was $125K, these are 3 bd 1ba garden style apartments renting for $700 per month.

Since u have all that interest and property tax in addition to hopefully also paying down the principal, then there's the carrying costs (insurance, utilities, gardener, maintenance) IF you're still gonna keep it not just make it look real nice and sell it for top dollar, then yea airBnB or similar  (ie, travelling nurse rooms) where u get more monthly than just traditional lease.

Plus you can spread out costs like the gardener.

Purchase price: $7,425,000 Cash invested: $2,200,000This walk-up, garden style property was built in 2001 and is comprised of 90 units in Winter Haven, Florida.

Not sure if it has already been mentioned, but having a seasoned multifamily investor on your team would help immensely, both for the operating and loan experience.Be definitive in your criteria in terms of units, class, value-add, garden style/mid-rise etc.

Property numbers:Purchase price 397kDown 20% conventional ~ 80KBy end of May after adding some furniture, garden and landscaping we will have 20K in improvements.All in all 100k invested.Expenses:P&I insurance etc. 2k a month.Bills about 300 a month.Airbnb license 250 annual.Income so far:Expected 26k in booked reservations and more to come.By end of the year I will have positively cash flowing property with over 100k equity build into it.I wouldn't have any of that if arbitrage but it would be very lucrative.On back ground we are trying to get a garage and small apartment above added to the same piece of land and refi by end of the year.