Winter occupancy is lower than the other seasons, but still produces income. 

Most years I have had moderate income (last year less than 6 digits of taxable income). 

The software I use to keep track of income/expense for this property has a category for renovations under capital expense.

Additionally, the contract requires that the deed be recorded in the borrower’s name once the contract is paid in full, but it’s silent as to whether we have to record when we purchase the seller’s interest in the contract.

Does anyone have additional information on buying from auction sites and/or living in the Broward/Palm Beach counties and willing to mentor a newer investor on the process?

In addition, active residential RE is not passive even if using a PM.  

The daunting thing could be zero rental income for x months. 

Paul that I purchased in 2020 and did a complete renovation with a 900 square foot 2 level addition.

Hi @Barry Randall, being creative by applying room renting will definitely boost your rental income.

Investing in Florida, especially in Tampa, is a fantastic idea due to strong population growth, high rental demand, and no state income tax.