Yes, this is in Florida.This property is located in a desirable area in Florida.

Even in the “gentrified” neighborhoods of Federal Hill, Fells Point, Canton, Harbor East, desirability can be very block by block so you have to be careful that you understand these neighborhoods (and blocks within) somewhat intimately.

I rent and really have no desire to purchase in the city because it would be a downgrade of space/neighborhood.

Because his credit was good and the property was in a desirable area, not value wise, but living condition wise, he got 90%/100% financing on project 1 which is pretty good. 

But every day investors buy less than desirable property utilizing high leverage debt at high interest rates producing high risk of negative cash flow and built in negative equity.  

With that being said, having the comps that your agent has provided you ready for that appraiser can go a long way to make sure you get your desired outcome. 

It could work, but a long ways from the virtual certainty you should desire if investing your mom’s money.  

The thing that lead me to invest in Costa Rica was a desire to own a property in Costa Rica first.  

After 12 months, you can fully rent out the property if you desire, without needing to occupy.2nd homes are designed to have another place to live in a "resort type" area or when commuting to a different state for work.

There's room for flexibility depending on the desired tax strategy.Once you have more than a few properties, you'll want to consider software.