The rule of 5's, or 5% for capex, maintenance and vacancies is going to get you in trouble.

Yes, the 1% rule is getting harder, but hopefully rent prices will continue to increase as they have been trending.

Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

There are rules to follow!

We get very few cancellations now that we are using their cc processing and have tightened the rules.

Also, make sure to build trust with sellers and research Orlando’s zoning rules—they can really impact deals.

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

I'm sure some locations have specific rules, but I just put everything into one account. 

Quick blurb about the new out of county landlord rules.

Look for undervalued properties.Network: Connect with local real estate agents, contractors, and other investors for insights and deals.Analyze Properties: Use the 1% rule to evaluate potential properties (monthly rent should be at least 1% of the total investment).Secure Financing: Explore different financing options like conventional loans, hard money loans, or private lenders.As for timing, if you can handle the extra responsibility, starting now could give you a head start.