If so, keep in mind its a more challenging tenant base that comes with higher turnover and maintenance costs?

I know it's challenging in this market but I don't want to go out of state as a newbie.

The challenge for me is the down payment of 101k as I have only 20k to throw at this.

Hi Soumya, the east coast of South Florida is a unique market for sure.  

After a lot of trial and error we really have to come up with a unique way to market, not to compete but to stand out.

@Blake Edwards  I guess I have a pretty unique perspective.   

My biggest challenge right now is lack of liquid assets.One thing I'm very interested in hearing about from others is:-what was your investment strategy for rentals?

You will at some point be forced to at the least snake it which can be challenging sometimes or at worst replace it.If it is a flip I wouldn't be as concerned and just replace from risers up or whatever currently needs to be done.

You are an individual and you are unique!

The second something bad happens in life or challenging and people want to check out or say look what happened to me that is when people give themselves permission to fail.Life is tough,very tough but we all need to keep moving forward.When I was 16 years old I lost my dad to a car wreck suddenly, my best friends dad to cancer, and my grandmother all in the same year.