Your goal is to build a passive real estate portfolio (we can discuss what passive means to you), so while I don't condone throwing $100k into a deal without even a basic understanding, alternatively doing so will teach you far more lessons than reading a book will.  

Hi James,I personally don't have enough experience to answer your question, but there is some helpful stuff in a similar discussion here: http://www.biggerpockets.com/forums/52/topics/1779...You will find related discussions to any forum discussion you are reading at the bottom of each forum discussion page, and they can often help you find posts that answer your question.  

As discussed the property at the time of closing was occupied.

First - Have a discussion if the rental loss will immediately help your tax situation. 

Policy discussions only no personalities.

Its a good discussion, these stories always help to re-evaluate and discuss our markets, or whether or not it's worth staying in them.

Discussing options with my wife, we are looking to take ownership of the house, make some much-needed repairs, and getting it rented out.

I’ve noticed that there hasn’t been much recent discussion or activity specific to the Gainesville, FL market, so I wanted to start a conversation!

I have a Youtube link in my profile with some tips and would be happy to have a call sometime to discuss your wants and needs out of an investment property.

Here's a link to a Realwealth article (https://realwealth.com/learn/best-places-to-buy-rental-property/ ) that discusses why Ocala is a great area for investors.