And thanks for the in depth explanation of the deal.

Insulation gets pinched here allowing minimal insulation depth.  

From then on, you screen for properties that are under $XXX and hit around the condo fee price point, and you have a much narrower set of properties to look through daily and have to do more in depth analysis on. good luck with your search and don't sacrifice your goals for cashflow just because you want to get started with ownership.

I also had these thoughts and concerns about rental properties in the mid west and rust belt.. you can say the exact same thing you are posting here about every single market in the country were homes are being repositioned to cash flow investors..the locals will always think the other people are paying too.. much.. and I had in depth conversations with one of the best appraisers I have ever me there in Detroit..

I am sure you spent your time learning the market before taking plunge but I should also add that any one who was smart enough to get into the market back at the depths of recession had a great ride up.

make sure you factor in the long hall cost. cap ex (long term fixes like roofs and hvac) and maintenance  (a little leak here and there and damage to a wall) Brandon does an in depth analysis on this. since you already own it you can still run numbers to see where you are currently. if your positive, awesome. if your negative, not a huge deal, but think about some strategies.

Please lets not delve into the depths of a single issue.

Let me know if you want help looking into Orlando a little more in depth.

There will be some uncertainties in your projections, so best to make sure you have sufficient profit margin (aka margin of safety) and cash reserves to cover these unknowns and maintain multiple profitable exit strategies in case they are off.Please note that this sort of analysis is much more in depth and fundamentally different from the analysis presented by the OP ... however, she asked if her analysis was right, and IMO this is what an analysis that is "right" would look like.

Let me know if you’d like to talk more in depth about these cities.