I would research local regulations and hope that you're not paying their utilities because growing these plants require a lot of water and heat which can really spike up the bills. 

Electric can also spike in the summer with A/C.

As is often the case, consumer-facing mortgage rates got lower on the heels of the fed raising interest rates. 

(unless of course you have some special situation, like your well heeled uncle who's a member of the same country club as the bank CEO, who by vouching for you gets you that loan!)

The finish on the hardwood floors was eaten away in the kitchen area and black heel marks were left and polished over.

As a new investor located in south florida that is looking to begin investing in RE, how do you think I should determine whether the better timing to invest in my local market is now or down the road given these price spikes???

Here is a bit more on governments attempt to "rectify" problems...whether perceived or factual:The AG’s decree comes on the heels of the Seattle City Council’s renter protection ordinance in August that made it so landlords can no longer choose which tenants they believe will be best.

An older building with the repairs can wipe out any cash flow for years.If you are investing this kind of money you really need to partner with someone in your area to be your advocate and show you things you do not know to look for.If any utilities are paid by the landlord is a huge one.With inflation coming around the corner utilities could spike and annual rent increases would not follow at the same pace.This would make you have diminishing returns over time.It would be better to have utilities on the tenants paying it as the cost would be paid by them and you preserve your margins.

Electric can also spike in the summer with A/C.

With the economy at a standstill there is a massive spike in missed payments, missed rent and unemployment.