you needed to save 10% plus closing cost and you got an 80% first and a 10% second and the 10% was done many times by a Hard Money lender.. thats who I got mine.. 80% at 9% interest 10% at 15% interest short term and had to save about in my case 10k in cash in 77.  80k home in the Bay Area no less  ( worth over 1 mil today) so 10k out of pocket second for 8k and the first for 62k.  

The Tampa Bay market is more of an appreciation play than a cash flow, so I don't really know your ultimate goals with this rental.By the way, I saw that you are here in Sarasota.

The homeowner currently owns a rental property in the bay area and the tenant’s rents is $2,200 a month which is way below market.

I have a question for anyone who invested in Mahogany Bay Village in San Pedro, Belize. 

Say something like this https://www.loopnet.com/Listing/1247-Portola-Ave-Livermore-C...I am originally from SF Bay Area .

Hi Bigger Pockets,I purchased a condo in the bay area this year living as an owner-occupant with housemates.

I understand cashflow and making money will come in 7-10 years.my situation: I live in the Bay Area but housing is out of my price range.

Didn't do enough research... that was a learning opportunity.I'd say my Bay Area properties are doing well but I do wonder if sold those, took the proceeds how I'd do with stocks.

You will certainly need permits and in the Bay area, I'm guessing they are pretty anal about that. 

Seller will financeLarge building with 3 storage bays/shops on one end1.