Anyone can give me their experience in renting out condos/townhouse in Fort myers vs Bonita spring in FL and what they would do if they were in my position?  

Many of which are savvy BP type clients who are doing updates/raising rents and then the buildings do cashflow positive even with lower down payments which produce amazing returns (at 3.5-5% down you get close to a 50%+ return a year just off mortgage paydown). 

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

Honestly, I would not sign any lease until you positively close and legally own the property.

If you currently rent for $2,500 and take the $1,750; you have additional positive cash flow of $750 for your rent situation.Have you thoroughly looked over the capex potential issues? 

Additional DetailsI’m willing to invest in out-of-state properties, though I prefer areas with good property management options.My primary focus is passive income, but I’m also interested in value-add opportunities.I want to ensure these investments provide strong tax benefits and diversify my portfolio.I’d love to hear from experienced investors:What would you do in my position?

We position ourselves in the middle, offering a high-touch, small-business experience with Superhost status.

@Robert MedinaI agree with @JD Martin that you’re in a strong position with $600/month cash flow and a solid equity base.

There is now some positive cash flow (not much considering the value of the asset, but a lot considering where the initial cash flow was).  

Moreover, I would recommend prioritizing a W2 position over 1099 self-employment/sales for two reasons.