You need to also be ready to pay for that big maintenance issue (new roof, HVAC system, etc) since you'll have no income from the property.I have done a lot of research into this topic as I was getting my feet wet in real estate, and there is no doubt in my mind that CASH FLOW IS KING!!!

We are a very wet humid state that can wreak havoc on wood framed properties (wood rot, termites, storm damage).

That might be a lot of money for the first one to get my feet wet, but it may just be the right direction.  

Sure, you pay more prepaid interest, but you also force the seller to cough up most of that month's rent at close.

GFCI in the wet areas are a good idea and will work fine without ground.I am not an electrician buy work in the electrical field.

Again, tax lien investing could be a quick way to get your feet wet (no pun intended) in land investing in Florida. 

It is integrated with VRBO which means you get to use your own credit card processing which saved us about $12,000 a year in CC fees, and no more waiting around on our payments or coughing up another 3 points for “advance pay”.I am uncomfortable with how VRBO is eating more of the pie as time goes along, so we are actively working on a way to eventually divorce.  

I plan to get my feet wet investing in Tax Deed properties this season.  

As @Jerry Ta stated, Lifestyles is a great place to get your feet wet.

Is it surface condensation or is the sheetrock actually wet?