I would say 225k around average to stay out of high risk zones.

It is surprisingly easy to manage out of state and if you want more tips on how, check out Bigger Pockets book "30 Day Stay" on Mid Term Rentals. 

Yes, Always stay on top of your properties and/or investments .

It will include a compact bathroom, a tiny kitchen area, and a heater—just the essentials to make it comfortable for someone to stay in.

I was referring to Owner Occupied foreclosures in particular, when warning to stay away from foreclosures in certain states.I agree that door knocking would be the best way to get these deals down.

I'd personally say pulling your water heater out and replacing with a wall mount on demand one, would be worth the cost to have in unit washer dryer if you are staying there or renting it, it would be worth it.its always worth doing the big stuff well and correct even if you are cleaning up after someone, the long term hold always prevails, its just a little frustrating front sometimes, but hang in there!

Staying Flexible in NegotiationsAs agents, licensees are bound by ethical and legal rules that may limit how they negotiate or market deals.

I can think of a couple of seemingly great reasons to stay in the deal, which would be 1) they'd get a portion of the rent we'd be paying to live there (again, I assume this would be split 2:1:1), and 2) if we live in the house for a couple of years, couldn't we sell it tax-free, since we would be owner-occupants?

I have no issue staying booked so whatever I am doing is working for us.

Stay educated on Florida market trends and BRRRR success stories.Good luck!