I keep getting asked, so I figured I would post this up so I could simply refer people to this post.The rough guidelines/strategy that is working for me so far is below.Assumptions - You are leveraging debt.

My main concerns about Florida include: Chinese Drywall (very toxic; found in older homes); HOA Restrictions; Lots of people/crowds; sinkholes (properties sinking into the ground); Red tide (dead fish found on beaches due to algae bloom); Homeowners Insurance costs (w/older roofs); Mold; Hurricanes/Flooding , New construction (not always built to quality)... these are the most common issues found in the Florida market.What zip codes would you recommend for a single family investment property under 300k to mitigate these concerns? 

They also require annual licensing so be sure to include that in your operating costs. 

Then post completion of the rehab you can sell or refinance into stable 30yr fixed debt.

Pay your debt obligations people.

Any advice is appreciated.I would pay off the 9% interest debt.

However this direction would add a much higher value to the property.Personally I do think there is great appeal to the idea of being mobile, low footprint, minimalist living combined with affordable housing - especially for the millennial crowd who are saddled with enormous student loan debt and earning lower wages than the generation before them.

The application includes a background report and credit report.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

What is the hold period/debt assumptions?