Over the years, I was involved in number of cases where folks suddenly had to face a huge liability because they didn’t realize this fact.Finally, since you mentioned that you don't live in the states, I would double check the law of the country you currently live in to see if there are any restrictions on the amount of money you can transfer.

Tampa just doubled in cost.

There's no substitute for driving the area and learning it block by block.Also, double check their rent control ordinance.

And as for the asking price to be double what its worth: 1) Its worth what someone will pay, and 2) make offers, not friends!

My property manager doubles as my broker, and he has a lot of connections, which have been beneficial to us through the process.  

The ARV/Market Value needs to be at least double that price to be a decent rental property.  

Plus, you would have to make a double garage with two exits no?  

Its a double edged sword watching investors come out here.

If you're student loans are getting in the way of your goals, I'd either double up on payments and try to get out of them as soon as humanly possible, or invest on a property that cashflowed in a way that would allow me to pay them them sooner.  

I would like to find a buyer, exercise my option and do a double close and take the profit difference.1.