@Peter Heldstab All 3 of the markets that you mention are strong cash flow markets, The real key to success in either of them is getting to know the areas and neighborhoods.

If so that seems reasonable but i am not strong on knowing labor prices vs labor and materials.

I agree with a strong "NO." 

. -- I typically have the property under contract, and thus approach the conversation from a position where there is a strong possibility of a working relationship.  

@Sean De Fry Orlando year over year has seen very strong job growth, population growth, and property appreciation.

The only things I feel strongly about are paying him a fair share and keeping debt separate whenever possible.

Deal 1: 4/2/2 SFR Nice quiet neighborhood, easy rental or owner finance area, low DOMPurchase Price: $115kAs-is: $115kRental ARV: $150kRepairs:$12k....0$ if the current tenants stay which they plan to do and have been there 7 years (I hope to wrap and OF to them)Flip ARV: $160Repairs: $20kRent: $1200 current, $1450 marketTaxes: $4000Seller will carry 25% = down payment on conventional loan.Deal 2: 3/1.5/1 Garden Style Townhome, possible section 8 rentalPurchase Price: $95kAs-is: $95kRental ARV: $110kRepairs:$20kFlip ARV: $130kRepairs: $30kRent: $1495 top of marketTaxes: $3300Seller will carry 25% = down payment on conventional loan.

As good as a property may seem, it can only ever be as strong as the market in which it sits.

.$200 or $400 per month cash-flow per unit is fine, but the real wealth is built buying odd or otherwise strong but unfinancable assets at discounts and repurposing or renovating smartly into something special.Will I now buy an A class single fam at a 20% discount that only breaks even or loses a couple hun a month with 10% down?

Your home market is supposed to be up and coming strong at the moment while Houston has had a really good run since 2012.