But my most recent classroom experience is actually in teaching PE, which helps to stay active.

Haines City seem to have higher HOAs that kills the return but Kissimee and Davenport may work for our strategy.Here is a deal that I’ve been looking at:118 SIERRA CIR, DAVENPORT, FL 33837Price:     150KClosing:  3KRehab:   6KRent:     1400HOA:     55Insurance:  100Management:   140 (10% per year)Tax:      208 (1.5%)Repairs:  100Vacancy:    58 (6% pe ryear)Cash-on-cash:     5.6%The return is still not where we like to be but might be able to squeeze another percent by reducing the purchase cost or management cost.

@Chad Eisenhart, The definition of a licensed design professional as determined by most locales is a Registered and Licensed Architect (RA) or Engineer (PE).

I am from Marin and work in PE RE .

Land cost higher than $100,000 pe acre;  10x 20 rent $90 or lower. 

I've never seen a hedge fund or PE fund do something like this.

How many people were buying Blockbuster Video when the P/E was "only" 8?   

And just as many of the investors here glean insights into practices from 'the big boys' (PE funds and REITs), so too do PMs from their 'big boy' equivalents.So to understand a little better the PM business side, you should look to the billing practices of the large PM companies across the country.

@Wilson Pe, alternatively, I suggest you take a step backwards and reflect on why you think you want to obtain a conventional mortgage.

Don’t focus so much on these details, they will emerge as you begin training - I recommend Knowledge Coop for the 20 hour training and state training (PE + CE) and anyone really for the DRE stuff.