As a matter of fact, I wouldn't remodel then either....I used to do this as a GC in San Diego, and found that it rarely, if ever, pays for itself.

I guess I don’t understand the paying another fee on top of the normal fee.

If they continue to smoke in the apartment, you have grounds to file for eviction due to them breaking the terms of the lease.

They generally end up with better options than a lower income self paying tenant.

Finally, every property I have ever bought I always felt I was paying too much (at the time).

Verifying income is a method of determining whether they have the funds to pay rent.3.

I would say Corby makes a really good point with regards to the MI that you pay with FHA. 1) I definitely would refinance into conventional (if that is an option). 

If you are a solid investor focused agent, I’d be game to discuss land development + ground up construction of a well designed building you'll be fine in Fort Lauderdale or anywhere in South Florida. you will probably need more liquidity than existing but the deals are much better. 

@Mat FisherMost programs are very expensive which is why it’s easier to pay a servicer $25-$35/month th manage that process and they will also do all the tax forms and handle escrow

I've had great appreciation on them and would like to hit the ground running on a Florida STR, rather than create one from scratch.