I can't rent it while financed (VA rules) and it's not suitable for house hacking. 

Apts will still rent, could possibly get another $25-50/unit if exterior is better. 

@Cynthia Miller in my state it costs $750 to set up series llc then $50 for each additional series.

I will have around $30k in savings and I can find properties anywhere from $50-150k in my area. 

I have read the zoning rules, but cannot find anything dealing with this.

When people mention the "1% rule" you usually want to consider 1.2-1.3% as a better rule of thumb before you dig into numbers on a specific property in Allegheny County (IN case you don't know what I'm talking about: https://www.biggerpockets.com/blogs/7325/46689-the...)The taxes are higher than most areas.

@Brian GarrettGotcha, understandable We haven’t ruled out flips just yet, just trying to see what other ways may be out there, or if 20-30k would be sufficient depending on the market for a flip.

If you are interested in turnkey that meet the 1% rule then I can put you in touch with someone! 

Hi @Mike SandsTo me, it seems like this is going to be a costly rehab (50-100k) with it being a shell + structural damage.

From the top to the bottom of the last crash home values in Florida dropped by over 50%.