It may cash flow for a year or 2 but once things start breaking or something goes south with a tenant or it sits vacant for a few months, all of that previous "cash flow" is wiped out.The business model is a high CapEx / low cash flow business model relative to the value of the assets.Rentals are a great long-term wealth-building vehicle (appreciation, loan pay down, tax benefits, etc).Don’t rely on them to pay for your groceries.Sounds like you have a lot of experience in negative CF, and not in positive CF. 

Focus on cities with favorable price-to-rent ratios, population growth, and employment trends, such as Des Moines, Oklahoma City, and Charlotte, while considering factors like landlord-friendliness and property taxes.

If the purchase is done in cash, as you mentioned, they’d have more flexibility, but they’ll still want to carefully consider the tax and legal implications of the subsequent sales.I hope this helps, and good luck with your client’s deal!

Most Florida markets will share some dynamics though like taxes and insurance. 

Towards the end of last year, one of my buddies contacted me and told me his accountant told him that he needed to buy some real estate to lower his tax bill.

For example, what is the monthly revenue for the property and what are the "All In" expenses, including mortgage, taxes, insurance, utilities, repairs, etc...

Assuming property taxes + insurance added don't go above $1,100 total, you could maybe make this work. 

If your bottom line numbers on tax returns and W2 income are not strong however, this will be an abrupt dead end.

The home burns and the incredibly over taxed CA FAIR plan has either gone bankrupt or takes years to pay out.2.

Your requirements to defer all tax are to purchase at least as much as your net sale.