Plan to set aside 25-35% of that reserve amount each year (assuming that you'll actually USE the reserve every 3-4 years).As for CAP rates, I haven't looked in south florida since last summer, but they were more or less running with most of the southeast.

Does anyone know cities/areas where high cap rate rental properties are available in decent neighborhoods within a 100 mile radius of Ft.

The journey of a thousand miles begins with the first step. 

Ask them for something like:  all sold properties with a 1 mile radius between 1700-2200 SF for the last 6 months. 

Rose, a pharmacy and medical college all within a couple miles of one another.

I would suggest looking into a multi family homes near cities with in miles of major universities ie: downtown New Haven

@Connie Miles, I direct messaged you.

Thanks David,About AGI, lets say for example I grossed a total of $40,000 but used the mileage deduction of $.57 per mile and deducted $5,000.

Literally across from the street from a decent middle school, half mile from a high school. 

@Casey Miles I hope to use house hacking on my first property.