$1M is definitely in the sweet spot for the Tampa area. 

You also cannot rent to a family with a child under 6 unless the unit has been deleaded, the EPA lead paint disclosure form isn't enough to allow it like some people think... the unit needs a letter of compliance to legally rent to them.

Due to the price different between Toronto and SSM, retail buyers are seeing the pricing and they are 'great' deals to them, even though they have climbed this past yearObservation 3:  With material prices up, you would expect new builds to slow down, however in my conversations with GC's and builders they are slammed trying to keep up with the build demand.I would agree with Tyler that there are definitly portions of the city that I would not invest in. 

California is most definitely a Tax-deed sale state. 

How can I determine what is legally buildable or "unbuildable"?

You are going to get people who will respond to this thread saying you definitely need the LLC and other people who will say it's a waste of time.

Anyway, I think one of the basic legal concepts is that you can't hold one party to the terms of the lease when you violate the terms of the lease yourself.

Here is the definition: Negligence is unintentional but irresponsible conduct that leads to an injury.

These are more complex legal structures that can provide even more protection than a traditional LLC alone.

I definitely have a lot of learning!