There was an STR boom when many people bought homes here thinking they could have passive income, but that is not the case here as much as it is in places like Asheville (which is still seasonal, but not as much).

Then figure  tax on your income. 

Investing this amount in passive deals might not provide immediate income, and you could end up waiting years to see returns (similar case in most investments.) 

With that being said we tend to see a lot of CA buyers relocate here for the lower cost of living including lower home values, property taxes, insurance, no state income tax, gas prices etc.

I am in the Tampa Florida area and we in dire need of more LTRs for incoming residents. 

I’m considering amulti-family property in the 76104 zip code of Fort Worth, TX, and I’d love your feedback to help determine if this is a good deal.Property DetailsAsking Price: $169,999 (seller says it’s negotiable).Current Rental Income: $2,400/month (duplex is vacant).Configuration: Combination of duplex and triplex units.Some units are rented at below-market rates.The duplex and need rehab.Historical Income: Seller claims it previously brought in $5,000/month when fully occupied.ConditionBuilt in 1934, so it’s an older property.Some permits were recently pulled (e.g., plumbing, window replacements, and sheetrock repairs), but it still needs work to get the vacant units ready to rent.It’s located in a neighborhood with a higher crime rate but also near major highways and areas with rental demand (e.g., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.

It also offers a chance to shift into something more passive, reducing the hands-on management that seems to be more of a hassle now that you’ve moved.That said, the rental income potential from your properties is worth noting, but there’s a limit to how much you can boost your cash flow, especially after already making significant upgrades.

Your ability to qualify depends on income, credit, and lender requirements, but leveraging your equity makes your request more feasible.

The problem is mainly a concern for people with a net worth or reasonable income. 

Most of these program qualifies borrowers with income and very few DSCR.