So I'm working on a commercial multifamily building in a really hot market in SE Wisconsin right now.  

Hello:So I have been searching for a multi unit to buy in SE FL.  

no i dont think that new construction leads the market in Indy its pretty diverse.. the major risk to me or my opinion is not the market per se its buying low end hard to manage tenants that is where i see the risk in the mid west rust belt deep south cash flow markets.top 1/3 of the renter pool is as solid as anywhere.. 

This question isn't about real estate per se but I know that we have a lot of members that would be knowledgeable on the subject.

As for current rents for 3br 2 bath, it look like they're between 1300 and 1700 depending on SE or SW Arlington.

From an insurance standpoint pools aren't a problem per se, but you will need to have some risk management in place including at least a 4 foot fence with a self latching gate.

I know this would not be a "money maker" per se, but my main objective would be to simply acquire a discounted home in this hot market, and let someone else "buy" it for me.  

Conventional will require at least 1 yrs returns as a SE borrower (with qualifying income), as you already know, but even without a return, you will need to provide that info through bank statements, asset depletion schedule, CPA produced income statement...something. 

Pedro It seems to me that Fort Lauderdale is one of the more STR rental friendly cities in the SE Florida area. 

I'm not increasing the rent (per se) but want to change the payment of utilities to tenant (I was paying partial sewer); which would effectively increase their rent.