We put it back together with zoned HVAC, new systems and a modern kitchen.If done again, the acquisition must be very low, plans for the contractors' bids to grow, room in the budget for cost over-runs and a disposition price that includes a profit.

Do you have the time to answer questions and field problems in a different time zone.

Is it a huge red flag?

I am available for contact over the phone or zoom, give or take the time zone differences.

Also, is it illegal to have multi family in a single family zone in FL? 

Not saying you didn't (or did) miss red flags but you asked for advice from those that have been doing this a long time and sometimes a bad tenant who knows how to play the game gets in. 

You have to verify the zoning with the city/county/municipality, make sure they are not in violation already.Next check to see if there is a corporate or personal guarantee.

View report*This link comes directly from our calculators, based on information input by the member who posted.Anything in this report that stands out to you as either a major positive and/or a major red flag?

Look into local governmental policies, for instance, laws that may regulate/cap rent, property tax increases, different zoning laws that may hurt or help your strategy in the long run.

Buy the house next-door and turn it into an STR...unless this one has a permit that can't be acquired.In any case, the appraiser will use comps unless it is a commercially zoned bed & breakfast type of situation...which would not be eligible for a residential mortgage.