I just bought one of their zero money down SFRs in alabama last year. 

Not interested in 1031 as I want to use this money to pay off debt and spend more time with family.

Your leaving money on they table if you can't accommodate this.

So while every market is different and $4500/mo in rent is nice, are you spending a lot of money to have a less valuable property, versus spending that same $400k (or less) to do a nice renovation and keep it single family home and sell it or rent it out as a nice single family? 

So for a $500k investment you would look to raise $250-$300k and get bank money for rest but your overhead will be too high.

I want to start flipping houses with hard money loans.

Whether or not you can generate tax savings out of it is not guaranteed without analyzing your situation.

You both end up with property held in an LLC without losing money on agent commissions, taxes, etc.

Hey everyone, I am looking for information about Florida market, seeing how the houses are so pricy (Dania beach, Hollywood, Miami area) what would be the best strategy to start a STR with out having to fork out all my savings in one property.

The smaller mods end up costing me more money to do.