This area seems to be increasing with popularity within the STR market so thought I'd mention to you in case you were interested in other parts of FL.

In Fort Worth, for example, payment standards are listed here, plain and simple.

We don’t want a fully amortized loan but a simple interest HELOC.

Both have built a significant operation, a feat that is far from simple and is rather rare, the vast majority of TK companies are BS or scams to to some degree, and both have achieved a place in the industry only possible via a certain level of delivery.

Lean more to “over” when you present the lease increase to the renters.

It probably would have negative cash flow even if self managed, but I expect at next mid term tenant the rent rate will increase.  

Hi Daniel,All around it's a tough market to do a BRRRR, but a lot of investors are looking at ADUs to increase cash flow or doing short-term rentals.

In terms of determining if a property is a decent deal, you might want to look at the potential for rent increases in those areas and compare that to your mortgage payments and expenses.

It was month to month.I gave 30 day notice that the rent would increase to market rate, and he could move without 30 day notice if he wanted. 

This is for the purpose of having a strong foundation that will minimize risk from any “Black Swan” event and will also increase your long term cashflow.When investing in real estate or business in general, one should always look to protecting the downside first before looking at the upside.Just my opinion 🤷‍♂️Regarding your $50,000 budget for turnkey.It will mostly be C or D class which I would advise against.High crime, lot of volatility, unemployed tenants and property management collects rents with a bullet proof vest and shot gun.On paper things look great, in real life they are much different.On the other hand, if you DIY in a markets like Ohio, Michigan and Indiana.You can definitely be into a B class asset for $50,000 purchase and rehab.Wishing you much success