Typical market rent for the area is 800-1000 for the zipcode, housing authority has max at $1300.

I know DSCR lenders typically don't touch them.

I don’t have a loan on the property and hold it cash, but, if I sell it would lend the profits as hard money and earn 10%+. 

Older homes will typically have systems that are out of date - even if only partially. 

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Typically, we conduct background checks on only the individuals who are responsible for the lease (primary resident) and/or cosigners.

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

In my experience, a successful BRRRR typically comes down to two main things: finding a good deal and managing an efficient renovation.

But let HIM earn it.

For example, if the typical rent per unit is $1,500 (3bd 2ba), my landlord at the time would have one unit with three rooms and four people within the unit (one person per room and one room with two people), each paying around $500.