Congrats on finding a property and a willing seller!

Section 8 would tend to carry higher repair and as a result, additional vacancy.OP’s definition of cash flow is rent minus piti.  

If you are selling for 1M after closing costs you could purchase two 500k properties in your exchange and own one cash and a mortgage on the second.

This franchise provides training and a CRM to get you generating revenue.

Florida has a number of great markets that work well for investment properties, and a  number that no longer work.There are a few Florida markets that are still in the top growing markets in the country. 

Risk/reward was not something I was comfortable with after looking at numbers and a few things not grandfathered in if a tenant left. 

I know the seacoast of NH has been mentioned here but I wanted to point out a few options that could be considered.Hampton, a popular coastal town, has strong demand for multifamily units near the beach and a robust short-term rental market, especially in summer.

This statute section covers items on PMc's, and as detail here, an exclusionary clause to the statute which via that exclusionary clause it there in becomes an empowerment for the referenced actions being exempt from the prevailing statutes for that item.

And a lot of old school GCs may not have the ability to take a CC and may not care to learn how to...Main question is: why do you want to do this?

If we assume all cash and a 50% expense ratio (this improve with time due to the near fixed property tax) would provide 4.8% return from cash flow not including closing costs).  0.5 (rent ratio) * 0.5 (50% rule) * 12 (months).