You have to be willing to walk away from your 10% if the market takes a dive, or close on an already under water condo.

Now I would like to dive into the property search in the Orlando area.

When everything is done the place needs a good deep cleaning.e) Now comes getting a tenant. 

I am SO passionate about this subject because I lost 2 houses at the dive of the economy, almost lost my primary and over $100K that I had invested in the properties.   

@Kal Abhari,I'm not sure what your definition of "seasoned" is, but I've been at it for a while now, so I'll take a stab.Without diving too deep into a discussion economics, I find that ROI follows the curves of supply and demand pretty well.  

I just found one that fit my goals and took the dive.

==================================================It seems logical that this approach would work, however, is it difficult to find sellers willing to sell at such a deep discount? 

The problems here run deep and are systemic and fundamental in nature.  

Dive into the forums, listen to the podcast and read.

I'm deep into the month.