. $500k won't buy you much in San Fran but is a pretty healthy budget in Jax.One smaller factor is that Duval county doesn't charge impact fees on new construction (and is the only county in Florida that does not) which is great for developers but not so great when there's no money for maintaining our schools.https://www.jacksonville.com/news/20190423/duval-voters-to-decide-on-proposed-sales-tax-referendum-to-pay-for-replacing-repairing-renovating-schoolsAlso this isn't Florida or Jacksonville specific, but in times when the stock market is particularly volatile real estate investing becomes more appealing even with lower returns.Personally as an investor I find all this out-of-town investing a bit annoying (increased competition and increased prices) and am concerned that these properties potentially aren't well maintained.

If it's been renovated, and when.  3.)

Purchased it a year ago and went through a major renovation (added 2 bedrooms and a completely new bath for example).

Hey @Braden Just,MK3 Construction handles rental property renovations, not sure about the historical tax credit piece though. 

This house also is complete with a garage and finished basement area(newly renovated) on the first floor.

We also would like to renovate the kitchen and a bathroom in our current home, move on to a bigger home which will be better suited for our large family and turn our current home into our first investment property. 

I really like the idea of buying something distressed and forcing the appreciation into it through renovation.

I have a small park in Clearlake Ca and the last park owned unit I have would sell as is for about 20k, I will put 10-15k into it and sell it for 120-130k. 30-40% of the tenants in the park have renovated their units as well.

It seems foolish to not have insurance on a property that's actively being renovated.

Some contractors are better suited to lower end properties and rehabs while I prefer extensive projects and a higher tier of renovation than most flippers.