It has been a collegiate rental for MANY years, and the current PM that showed it to me yesterday has been in charge of it since 2018 with no gaps in renters.This home is in fantastic shape....new services throughout, no exterior issues, nothing. 

It isn't registered with USPS; can't be found on any online service like Google Maps or Amazon, and doesn't even have a mailbox to receive mail. 

Cash-on-cash return = Cash_Flow / All_In_Cash_InvestmentYour formula is calculating NOI / All_In_Cash_Investment, which completely ignores Debt Service and Capital Expenditures.Better you make these adjustments now in a spreadsheet, rather than later on in your bank statements!

His company is rocket title services, he is the attorney there. 

If the LLC is an operating business..... lets say providing roofing services with annual revenues that are consistent or even better increase year after year for 10 years, lines of credit or other lending options might be available that aren't available for a new business. 

Hey Jared, I live in Orlando and work for a LTR PM company that services all of Central Florida. 

I hate when people have an attitude like it's supposed to  be turn down service like it's some hotel room or new construction that nobody has ever lived in yet.

Or, you can do something like a debt service loan that looks more at the income potential of the property - FICO will still be a factor, but not the other stuff I mentioned. 

I've got my eye on crunching numbers with the Debt Service Coverage Ratio (DSCR) to keep ahead of any potential market dips.Cheers,Keeya

Each area is different in that regard but to sell that as a point is completely misleading.The appreciation on the house, especially a new build, is almost non existent for some time you're actually marrying the fact it's "new and maintenance-free" with the premium.