Sounds like you're on the right track for areas to find deals.

Flip the thinking.......How much equity do you have?  

I'm now figuring out how to maximize the return on current properties and add value, efficient ways to self manage, etc.

They find deals on oceanfront houses all over the country.I'd even look for a fixer upper to get a great deal.

It isn't a big job but I don't want things to go south so I stay in it.Of course I practically live on this forum so I pass along any pertinent info I find as well as answer questions.

what would you think of a 14,600sqft 3 unit property in sailboat bend, off market, that is RMM25 zoned and has a nice single family and duplex behind it, half of the lot if empty so it can be developed or RV/trailer parking, for $1.1M?

My point here is I don't know how they guarantee a deal but that is an interesting proposition.  

If so, how do you feel about the property you chose?

The Annual Owner Statement should break down all the expenses that the owner's tax professional then figures out how to deduct and on what tax schedule.

Network with your local market experts and see how people are making $.