Had the investors used an agent who understood the ins and outs of medium term rentals, they would have avoided a very expensive lesson.When placed in great neighborhoods, medium term rentals are excellent investments.

@Bryan Nwokem If your rents are less than your mortgage payment with no other expenses built in then I would not do this deal.

I'm curious about the high cable expense and $2,400 in utilities. 

Some work that comes to my mind is:1) Managing tenants to get rent paid2) Diagnosing a repair issue and getting the right team to make the fix3) Fielding messages from prospective tenants on advertised rentals4) This list goes on...I've found a company that automates rent collection and income/expense tracking for free, but I'd like to replace my property management portal altogether and feel I'm only half way there (certainly a tenant facing chat bot would close the gap).

I agree with Shawn, while expensive in some areas, it is not saturated for LTRs in Central Florida given the migration data.

Hey Enos, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

Basically financing of 10% is always assumed in our calculations/expenses and if I'm the one who puts up the money I make that 10%.       

If it’s too expensive to separate out the heating costs with the furnace see if you can shut off the second unit and install a separate heating system.

Can you give us idea of gross expenses and income?

However, if you are using a HELOC to improve a property it can be a great way to keep expenses low and refinance later when rates drop.