You should allow a 1-2 Weeks for the appraisal, and 1-2 weeks for title and insurance.

Furnaces break roofs need replaced and plumbing needs repaired.

Florida and Gulf Coast insurance should be a concern. 

With insurance rates going up, best to find areas with the lowest operating cost.

Even at that price point, you may struggle to find a tenant, potentially leaving the property vacant for months.Here’s an example of a deal I’m currently working on:Purchase Price: $215,000Rehab Costs: ~$250,000ARV: ~$615,000Potential Rent: $3,600/monthUsing a $615,000 ARV and 75% LTV on the cash out refinance, with taxes and insurance, my monthly payment would be $4,267 using an 8.5% rate.

Great Lakes Credit Union HSBC 70%, for premier clients only Huntington 75% LTV Hurst Lending and Insurance Investment property HELOC in Texas.

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.  

The moral of this story is to have good home owners insurance!

There is an offer to buy but if I include everything I've spent over the years, mortgage P&I, taxes, insurance, HOA, and recent repairs, I will just break even.

Make sure you ask them good questions, make sure they carry insurance and that they are available year round.