It is a tough market in south FL but you can do it.

Passive income is certainly the name of the game - building a real estate portfolio and creating generational wealth are key ingredients to long term holistic financial health and success.There are fantastic real estate investment opportunities in various markets, particularly in the Midwest and Southeast of the country. 

Looking for a market that's only 2 flights from Anchorage. 

What markets would you suggest looking at?

I tell people all the time: if you can't find a quality PM in a market, don't invest in that market!

Regarding vacancy periods, you'll need to understand, Days On Market (DOM) - or find a great PMC that understands and can explain it to you.

They could be your insight into off market deals.

Also, I don't know anything about the property but if it's under rented it may not be in market rent condition.

The house was on the market for a few weeks, I submitted my offer after the seller reduced the price to $24K.

What we found was only one other person contracted under $200 per square foot for clients and they also built within the city of columbus. the numbers have a much higher premium the closer you get to downtown. if you can't get the numbers to work my recommendation would be to get closer to downtown. we do build to rent development and single family home development and every line item is broken out. on the triples we have to build exterior staircases etc there are some things you can't really understand unless you build a lot. hope that helps but no one is going to build you for 110 a square foot. the lowest cost homes in our market at cost without a profit barely dip into 140 a square and we are in one of the cheapest construction markets and states in the country.