I have been 100% passive for the past several years via real estate syndications. 14+ and counting...Instead of managing tenants and property managers, I now spend time vetting out syndicators, always looking for track record, references, monthly reporting, the ability to see financials upon request and the ability to tour the property.

If Mobile Homes count: $50. 

So now you're 20% return is more like 15%. not counting the increased restrictions by many municipalities, Market saturation by everyone jumping into the short term rental pool,  angst about reviews, unhappy neighbors, etc etc. what if there was a better way?

Not ideal to lose a closet in a bedroom as a bedroom needs a closet (and window) to be counted as a bedroom. 

You cannot count on appreciation like you would in Portland or LA.I will say, however, that the cash flows in my particular market are fantastic. 

@Farzan Setayesh Hi Farzan, I have been investing in multi-family syndications for the past several years. 14+ different groups and counting....lately my target markets have included several Dallas sub markets, Tampa, FL and Jacksonville, FL. 

Towards the end of the project, I even managed to acquire a triplex (50/50 with another partner) which increased my rental count to 7 units!

I do not know anything at all about Florida building, but just so you know, in some states like California if you leave up one wall or some part of the original structure it is counted as a rebuild and the permit costs and property taxes are a lot less. 

Would that count as official if something happens to him financially?

Are traffic counts increasing on the streets around your subject property or decreasing?