Do read the lease, make sure they are not one sided stacked lease when you commit to honoring the lease terms.  

To a certain extent, anyone can find a listed property, run some numbers in excel that yield a great return, but brokers and sellers are very risk adverse and typically you are going to have to be outbidding an experienced sponsor by a fairly wide margin to be awarded deals.But, if you can come to a broker with some investor commitment letters up front, your offer is taken much more seriously and therefore you might be able to get better pricing.

The hardest part is just committing to getting that first property.We live in Lakeland (right between Orlando and Tampa).

I will have to check out multi-family units before committing, though.

@Cameron Weston probably talk to your lender(s) prior to committing.

I could see picking up one as a second home on a 10% down loan and converting it to a LTR as your agreed upon time commitment is up, but might have trouble finding someone to finance multiple condos at 10% down.

I am just really looking into getting a first deal under my belt to commit and not get analysis paralysis   

Otherwise, you are knowingly committing mortgage fraud. 

Since the buyer agreed to purchase, on your assignment agreement you are going to make sure the buyer commits by putting down a sizeable earnest money deposit. 3k as an example2.

Was this fee mentioned in the in the term sheet or commitment?