That's a good point, it is a lot easier to just turn them over to collections....Are the requirements the same ?

Out of state requires you to get a deal so much better that you can afford the overhead of a PM.

@Grace Galang The only thing you can deduct from the property (ADU) is the expenses associated with operating the STR.

USDA does require the property to be your primary residence and meet the occupancy requirements for the property. 

Things are expensive in Florida but you can still find "deals" or properties that will perform where you can get 10-25%+ CoC returns. 

The consequence is that she needs to move to a less expensive place.

The way the condo is set up, I would need to allocate the one window in the living room to the new bedroom, meaning the living room will no longer have a window.I know bedrooms require certain legal restrictions to be met (2 egress, certain size, etc).

A SFR was built in 1947 and required renovation.The 2nd parcel, which is right next to it, is an vacant land, no address associated to it.My initial thoughts are:1.Purchase this property and rent the house after minimum required updates 2.

They are going to put in a certain amount of work and their own money on marketing, photos, their overhead costs (agents are independent contractors who pay their own E&O and health insurance, income taxes, MLS dues, NAR dues, continuing ed requirements, etc., etc. all out of their commissions before they get to keep any $), their time, etc. then they also have to split anything they make with their brokerage. $4k would be losing money for me but again it sounds like a lower cost of living area.   

So the OPM thing does exist, but it requires the organizer to pitch people on a fixed APR with interest only payments disbursed monthly.