I searched for properties that stay on the market for a long time.

In my market if the property went up by $365K the taxes would have increased by about $8,000.

I'd be happy to provide some recommendations and suggestions for your situation as a foreign citizen living in Miami.First, it's important to have a good understanding of the local real estate market, including pricing trends and neighborhood dynamics.

His family made their money with W2s and the stock market.

I think part of it is the neighborhood.  

Multifamily is not as volatile as single family because when the real estate markets experience any type of correction, people flee to multifamily residences.

I wouldn't be opposed to having a little skin in the game (closing costs, inspections, etc) I would be living there paying market rent and doing the improvements myself.

With the current mortgage rate constraints affecting how many buyers are willing to enter the market we are seeing a lot of borrowers have success with the BRRRR strategy with plans to sell in the next 3-5 years when interest rates go down.Researching potential LTR and STR rental amounts and seeing if holding for a few years is a viable option is a good analysis to do well. 

It helps to make connections with your local flooring, tile, kitchen design studios depending on how high end you want to make your flip depending if it is in a HCOL neighborhood.

On paper some of these buildings had amazing metrics, excellent cash on cash returns, cap rates, etc, but when I looked at the buildings I found the neighborhoods were rough, there was poor management in place, there was lots of deferred maintenance to address.