By quickly assessing the market and taking advantage of the property's high demand, Partner Driven added value through a well-timed sale without requiring extensive renovations.

I am in Florida as well and I have learned over the last several years you have Agents that are great and do their due diligence and some that are brand new and tend to not know enough right out of the gate.

Partner Driven knew that with minimal investment and a well-timed sale, this deal could generate a significant return, making it an appealing investment.

For example most single family homes converted to multi family tend to not preform well for long term rental but if you are open minded to MTR strategy that same property may produce well. 

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsI hope BP serves as a helpful resource for your REI endeavors!

Well, a foreclosure does not evict someone living there, you need to evict them.So in most cases you start the eviction.

For my first investment, I was thinking I could use my dad’s land that he owns with 3 septic tanks and 2 wells.

The roof needs to be fix sooner than later so might as well, do it now. 

This list is just one of many data points that can help identify areas.This is a 500 ft view, you still have to drill down into neighborhoods, streets and specific houses that will work well as a STR or Vacation rental (not just an airbnb).I look for higher end vacation rental properties above and beyond what people call airbnb's.A room in someone's house can be an "airbnb" after all.I love the new Vrbo commercial with Nick Saban.

This is particularly important in areas with rent caps because you can suddenly find yourself well behind market values for rent.As for how much, that depends on your market and what rents are in the area. 10% is a lot and you may have tenants move as a result.