What a goof-ball state.And 475.42 states that the penalty for violating the law (say, if you did buy your own property) is 'a misdemeanor of the second degree, punishable as provided in s. 775.082 or s. 775.083'.http://www.leg.state.fl.us/Statutes/index.cfm?

I am buying 3/2's for 50-60k that rent for $850-900/mo, in decent suburb areas with decent schools.

@Bill S.

's jurisdiction, tenants here are not allowed to withhold rent.

be joint venture partners.Anyone have LLC vs S-Corp comparisons?

It was under contract 4 times with 2 buyers bailing near the end of the inspection period... one gave no reason, one cited "past evidence of termites in the attic" (1930's house in FL) the third forfeited his EMD when he couldn't come up with the cash to close in the end and finally the 4th buyer actually followed through.

The duplex was built in the 70's and is in very good condition.

(Mid 700's)Thanks everyone!

The asking price was $63,200 we thought we would seek to get it in the mid to low 50,s so we made the offer at 48,000 and they took it immediately, which made my wife mad because we should have asked less.

@Kevin S. you want the owner of the parking lot to be the owner (or owned by the HOA) of the improvement (building) otherwise you have weaker leverage.