Where are your properties located at mostly if you don't mind sharing?

Hello BP community, I need to find a reasonable priced property management company for a 12 unit property located in NE Miami.

Seems to me a bit expensive for the location.

Although the property I mentioned above is in a perfect location the numbers didn't work as the building has been neglected for so long now requires a complete overhaul.

You're not going to cashflow on a water front property and you may have issues with seasonality and/or demand in a very tourist-driven area.If you have an idea of where you'd like to invest and what the numbers might look like, a good way to test the waters is to put an ad on craigslist showing a potential property with the rent you'd expect to get and see what kind of interest it gets.For my rentals in Louisville, over the past 6 years I've had anywhere from 2-3 emails a week to 30+ emails per day depending on the location, rental rate and time of year.

A friend of mine is selling 5 acres or ultra prime real estate located by the 465 W/ Kentucky avenue exit in Indianapolis, IN.

If you can have an addendum of removing the clause and seller is ok with it then you should be good.There will be local REI in NJ depending on your location where you can meet these guys.

Based on where the properties I have purchased are located (PA) I would be required to pay a significant transfer tax to move them into the LLC at this point.  

Sure, location, cash flow potential etc. but numerically, is there a sweet spot?

I'm located in Iowa too and there are a lot of nice homes in that range.