-Often a persons last years are in assisted living, a nursing home, or with their children, so I could take possession of the home (and generate profit from it) sooner than the persons death.Potential risk that I can think of:-Higher out-of-pocket costs/negative initial cash flow with delayed financial reward. 

As you might know already, a lot of big corporations and wealthiest people of the US have moved to Miami area in the past 2 years as well as families who follow better lifestyle for their children's future and themselves. make sure you buy a somehow unique product (for ex; water view, flexible layout, high ceilings, building amenities etc). 2. 

We are trying to purchase rental properties to pay for my children's private education.

It depends on your “ideal tenant” and strategy once you PCS.Would you be looking to rent to single officers going through training, military families with children, medical corps personnel TDY to Ft Sam Houston for several months, maybe even an AirBnB near Lackland, etc.?

Living rent free (again not assuming that is your situation, but guessing many parents with adult children at home don't charge them rent), it can be easy to spend that money and then when you are on your own, having problems budgeting.

Upgrades/repairs include:flooring (tile and carpet, entire house), painting (entire house), complete kitchen renovation with new appliances, cabinets, sink, lightingcomplete bathroom renovationsupgrade/replace ACupgrade/replace existing hot tub  upgrade/replace furniture/bedsupgrade/replace old pier with newadd new kayaks, paddle boards, and bikesI am thinking anything that is removable (furniture, appliances, water toys, bikes, pier, etc) could qualify as an asset for the LLC and thus be used as a tax expense for the LLC.  

For example; - Professional Photos - Better Design -Newer Furniture -Welcome GuidebooksThis will help you stand out when you do list.

Furnishing with affordable, durable, new furniture will run you around $18,000 if you're starting from scratch.

As far as imperfections on the flooring , by the time furniture , and rugs are in it wont be noticable .

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $350,000

Cash invested: $100,000

Sale price: $875,000

Stamford water view single family home on Long Island Sou...