Review your state's landlord-tenant laws and give them a Notice of Non Renewal as soon as possible.

With that type of starting capital, you'll have some space to scale 'relatively' quickly, but start with one, maybe two, and familiarize yourself with turnaround times and payment/draw schedules as you go. 

For plans that will pay off later, get into house hacking, save money for a first payment, meet people in local real estate groups and find a mentor, and put money into things that earn without much work like stock index funds or ETFs.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

It’s wise to have a financial buffer in place to handle increased mortgage payments when your rate renews.Risk Assessment:Assess the potential risks, such as market fluctuations, vacancies, and maintenance costs.

Florida has over 1000 people moving in a day, our supply is almost non-existent compared to the past and even condos are giving amazing returns (example: we have a new condo purchased at $270k bringing in $4k a month in short term rental income). 

And non-onwer occupied rates are closer to 8%.

If you proceed with payment and acquisition of the land, please let us know how it goes!

I have experience in this field as my 9-5 is w/ non-profit that works w/ in the social services field.