So I was going to start title search first, then if it comes back clear I'll give them about $10k cash for them to move out and catch up on bills, then fix the place up really quick and turn around and sell it on the MLS.

So you're not completely anonymous.

I am a Daytona/ormond/Volusia investor so put me on your list!  

Thank you so much Steve! 

The house must have been a more recent purchase based on the balance of the mortgage and current value, so you may end up losing money on it after closing costs.Even if you get $2600 a month, the PM will take a percentage of that. 

Thanks so much for the thoughtful and thorough response!

Thanks so much @Drago Stanimirovic.  

Hello all,First and foremost, thank you to everyone who has given so much knowledge the last few years as I dipped my toes into real estate. 

I live in Miami but invest in Birmingham, AL, so I completely understand the appeal of lower prices and less competition.That said, OOS investing isn’t for the faint of heart.

Michigan is another great state to buy REI because the prices are still so low same in Indiana and Ohio.