Just North of Spring Hill in Holiday or in Crystal River you can get a better bang for your buck but it all depends on your comfort level.I am over in Pinellas County by Madeira Beach/Treasure Island and 4 units over here are about the same $650K to $800K depending on year built and closer to the beaches.

Would you feel comfortable sharing your approximate "loss rate"?

Once the renovation was complete, I helped the client with tenant acquisition and long-term rental management, turning the upgraded property into a sustainable income-generating asset.This project not only increased the property's value and rental income potential but also provided the client with a solid, long-term investment in the real estate market.

Your question is impossibly vague as you provide no details.

The seller provided the rent income history and all four tenants for 4 apartments are late and have been late in the past. 

Will it be very complicated to do a 1031 Exchange for my portion (provided that we relinquish the property and the sibling just receives the cash for her portion)?  

But the majority of the time, doing the active diligence can ultimately provide the best experience for any placed tenant which in turn will ultimately help yourself, if a property manager, maintain a healthy relationship with your portfolio of owners going forward for them. 

'Need to find the first deal' - they are everywhere, are you wanting someone who has done all the work and effort to provide this first deal to/for you? 

You can earn a high return, because there is a real service provided. 

It decreased the most in Providence (-13 days), Raleigh (-12 days), and Philadelphia (-10 days).Time on the market increased compared with last year in 17 of the 50 largest metros, including Tampa (+6 days) and Denver (+5 days).