You may want to ultimately expand your search a bit outside of Tampa to other desirable areas of Florida that are more up and coming.

You can usually borrow up to a combined loan-to-value ratio (CLTV) of 85 percent, meaning the sum of your mortgage and your desired loan can make up no more than 85 percent of your home’s value.

All that being said, some find rental agreements ending in harsh winter months the best because it tends to keep tenants from moving when the weather is less desirable.

Perhaps, it requires self evaluation whether one desires to be passive or active in the investing

The multifamily units I have personally looked at have been in less desirable areas and are in very rough shape.

Purchase price: $950,000 Cash invested: $420,000 Sale price: $1,600,000 Two brick townhomes tucked away on a beautiful lot off a highly desirable Centre Street neighborhood.

It is not the lower cap rate that is desirable.  

Future road construction making it less desirable?

My houses are just a vehicle for making money, no more no less, and the more landlords that don't rent to anyone who has a pet, the more rare and desirable my places become. 

Landlords who have purchases buildings in highly desirable areas with almost no fudge factor will have to dump those buildings unless they can float the gap and the legal fees for an eviction (which will take an unprecedented amount of time      c. remember all of those rentals held by big funds?