I'm currently finishing my time in the Army and will be moving back to Central Florida, Lady Lake, this upcoming year and ready to my real estate career to take off.  

@Liz Cole  one thing to keep in mind there is a reason banks generally wont lend to anyone who does not live within an hours drive of their project.. they have learned over time the risk involved when their borrower is not on the spot.I get these requests all the time.One lady calls me and says she has a flip in Chico..

The amount the lady owes on the loan is about 11K.

I also have 2 uncles that are going to let their homes foreclose because they are upside-down, so I might ask them to list their homes with this lady for two reasons: 1) so that we could try to find a buyer for them and make some money. 2) it would be beneficial for my uncle's to try and get a short-sale completed vs. a foreclosure.I talked to a lady the other day who says she just made 85k on one deal...and she says she averages 50k profit per deal.

I used to own 3-4 units in manhattan that i used to run myself with a cleaning lady I hired but i would much rather use a management company?

The lawn is all mowed, the exterior looks resplendent in the morning sun in all it's glory, and the neighbors all had homes equally as well-kept.I spot my guy and we head inside and the nicest old lady walks us around her pristine living space and I am just in shock after having come to expect the average place to be the next best things besides junk.It has a 3BR1BA and two 1BR1BA, the latter of which we will live in. 

Rub #2 for conventional financing.Little old lady pays the condo bills - presumably she's another owner.  

If you assume an optimistic ratio of 40% for expenses (because you're managing it yourself and you have no "vacancy" on the unit with the lady), that's $900/month.

It's run by a lady named Jessica Swingle.

They are getting a huge premium for these from people who appreciate and are willing to pay $1300-1600.The way they can do this is by doing all the work themselves so the expense to them is minimal but the pay-off is huge over time.You would need a strong rental market IMO for this to work well.Another example for them is close-in and small, decked out for a single (lady?).