As someone wobbling before their 1st investing baby steps this question isn't a top priority, but following 'begin with the end in mind' (and because I like to follow odd tangents)...Everyone has their personal plan, a unique goal.

My short-term real estate goal is to purchase a home in the Providence area to rent out to other college students. 

Let's connect and explore opportunities to partner since we have common goals - rental portfolio.

My properties are here in Florida (I’m in Fort Lauderdale as well) and a waiver of deficiency is what the overall goal is.

That is a pretty open ended question and depends a lot on your goals.

I'm a part-time real estate investor in the Detroit area who is looking to get into multifamily investing (10-20 units), with the goal of making my first purchase this year. 

It just depends on your goals and how much you have to work with.  

My 5 year goal is to make enough in passive income to quit my job in order to spend more time with my two kids, travel more, and secure retirement. 

Assuming your market is out of wack with that pricing, which CA always is, you do not invest.Owners of rent controlled properties are in a very difficult situation, as you will also be in if you buy, so your goal is to take advantage of that fact.

Which leads me to my goals in REI - the end goal is to build a rental portfolio that will provide enough income to allow me to quit my job, but I'm not in a place financially just yet to start that.