How good is this?

But not sure if I'm overlooking anything else that would cause increased scrutiny.Also, to clarify, my overall goal with the property is simply long-term wealth building through mortgage pay down and appreciation so I'm not targeting properties with very high cash flow thus the focus on tax writeoffs.

Hi Jhamari, good questions!

I need a good property manager there What does that mean, "in the process" ?

@Ray Hage would be a good person to network with for the Fort Lauderdale area, he knows it well. 

Good idea or bad idea?

Good cashflow for Section 8 tenants.  

I'm most concerned about vacancy due to the higher price point of furnished and if it may be a better idea to lease unfurnished/ long term. 

Welcome to the bigger pockets community and good luck! 

Sounds like a good way to go broke!