No other reason than I live and work in the area so it might make things convenient

Don't be surprised to see some BP members appearing on the State of FL unlicensed activity complaints records.

The HOA I worked for previously did this, put a little bit into bringing the unit to a condition it could rent and tried to recoup some of the long past HOA dues.The tenant that was put in place was given full disclosure of this so they were not surprised when the 1st position lien holder started foreclosure.  

(I'd be very surprised to be wrong about that.

If a city inspector decides your 50 signs are in violation, don't be surprised if you gat a $4,100 violation letter.

Those that have high levels of equity in a property conveniently ignore the value of that equity when calculating cash flow and by doing so can boast positive cash flow in a negative cash flow property.By using there math you can make every conceivable property cash flow at almost any rental amount by simply paying all cash to buy. $ 2M property cash flow with rents at $4000/month no problem. 3M, 4M no problem just buy all cash.

Yah, as much as central Dallas houses are appreciating I'm a little surprise rent isn't keeping pace at nearly the same rate.  

It should be convenient and haave minimal distractions.  

He now owes us thousands and is (surprisingly) paying us monthly installments. 

I like the idea of a known quantity property (no surprises from previous owner non-disclosures) and I know this location is going to get more and more valuable.