I could have gotten to profitability in a fraction of the time without those unnecessary expenses. 

Until i ran into it all, faced it, worked through it and got good at turning problems into profits. 

In southern Florida I fund and profit / loss is 50/50.

@Edreco AmosMiami’s market can be tricky for cash flow since condo fees and insurance costs can eat into your profits, especially with newer buildings or those near the water.

I also know finding a quadplex as a first property in Orange County isn’t going to be easy, but I’m open to hearing people’s thoughts.My goal isn’t to turn a profit right away—I know properties here might not have positive cash flow for a few years.

It is about creating a balance between being open to new tenants and protecting your property interests diligently.By fostering a more secure leasing process, you can ensure that your properties remain profitable and that your relationships with genuine tenants are based on trust and reliability.

Thanks Dennis, I think you're right that planning for a more conservative return would be a good idea.I re-ran my numbers at an even more conservative level:Lower ARV: $800,000Lower income levels (I'm assuming it will take a couple years to get up to full potential income, but giving myself 3 years was a conservative estimate):Year 1: 50k (NOI $1,000)Year 2: 80k (NOI $31,000)Year 3: 100k (NOI $51,000)My ROI numbers come out to:1% (year 1) 46% (year 2) 76% (year 3)This scenario seems like an acceptable risk to me, when the upside seems far more profitable.

May this year bring you strategic wins and profitable ventures in an evolving market landscape.

I have partnerships where I take a management fee off of topline and split profits from bottom line.

And would this be considered "capital gains" since it's re-sold under 1-year therefore having to pay a large % of tax on the profit?