@Corri GoldenIt cannot be "up to you" how much to deduct, they probably did not explain it well.

Charles,Welcome to the BP forum I am in Florida as well and its a great time to jump into the REI business. 

That should reduce your cost/interest rate as well.  

Please let me know if you are open for some discussions and I hope to prove myself to be of great help in your journey as well.

I would like to keep it as a rental as well.

But the electrical will be properly secured as well with a moisture barrier.

If it was a primary residence, there are conventional low LTV's, and as a popular second home destination,10-15% down payments for a SFR is common for well qualified buyers.

But also realize the seller will want (most likely) some interest as well.

I have done land subdivision and develpment, and have owned multi-family, as well as commercial property. 

You can generally place a voucher tenant in any property.In order to place a section 8 tenant you will have to pass an initial inspection as well as an annual inspection where they tend to be more strict and have you fix things that you may not have addressed for a market tenant.