At Spark Investment Group, we do smaller 506b syndications with a typical $25,000 minimum with capital raises typically in the range of $1.5M to $3M. 

It’s a modest home, and we aim for broad appeal with a neutral, updated look that attracts a wide range of buyers.

There are a few temp fixes that still range in the $5000 range. 2. now add the furnace, garage door (not opener, but actual door mechanisms), front door that all will need to be replaced in next few years. 3. the gutters that need replaced now (ours are too small and its causing major overflow), and the flooring that needs replaced prior to renting it out. 

If  you are in the 20% range, you are better off going to the casino and putting all of your money on black and seeing what happnes.Since you are out of the area properly calculating cash on cash returns can be difficult because you have variable expenses to calculate. 

It's great that you're considering your options for attracting a broader range of tenants!

You are very likely to get in the range of $1,300-$1,400 if that is the market.

Quote from @Patricia Andriolo-Bull: If you don't mind non-waterfront, there are a few places in Marco Island around that price range.  

Regardless of how many new homes are built, this doesn't increase the number of homes in this price range.

It'll return back to normal in another 6 mos to a year where the occupancy will be in that 70% range and you'll see nice and steady growth. 

Without trying to justify the big leap into the game, all partners are fully prepared in all aspects to commit to growing our business and be bound to the by-laws of the corp.