If you want to do it there's no reason you can't put in a clause saying if it exceeds that amount all bet are off.

After that, your best bet is to study airbnb and vrbo.

I have lived in South Florida for quite a while (from Palm Beach Gardens, down to Homestead) so I know we have a hot market and creating opportunity is probably gonna be a better bet than banking on a turnkey deal to cashflow.I will definitely be keeping my eye on Home Path because I am beyond ready to find, fix, and rent my first deal!. 

. :)  Oh the good ole days.yup I did not realize FHA went past the SFR minimum when you buy doors.. now I know why a 4 plex in PDX does not last 2 hours and sells for what they sell for and duplex's as well.. bet a lot of them are house hacks.. but for young couples or single starting out seems like a pretty reasonable way to start when you have a good job credit but not a huge down stroke.. compared to buy a low end rental way out of state..

But alas, this is what you do.Create a document with a list of possible repairs in a column form where you can manualy enter the cost of each itemlike so:Paint interior:    _______Siding: _______# of Windows: _________yada yada yadaThis is good for a few reasons.Now when you walk through the house you have a list and a check of everything you need to check out.

Although a very safe bet right now in CP, is that what you want?  

which way is the safest bet? 

I bet you'll be able to find at least a boiler-plate lease that you bring to a lawyer.

That contract will be grossly one sided, you can almost bet on that.

But for me they were pretty lame.I bet there are more people making it big without such distractions vs people that made it big because of such meetings.