I would remodel this to a high standard with really nice finishes to attract better tenants.I am buying it sight unseen and I am a little hesitant about the area.It's on NW 45th St, Miami.The purchase price per square foot is a mere $65, which is well below the current market average, even for the area.Are there any Miami locals who could chirp in with their opinion on this one?

In the last 10 years the property management industry has exploded both in the quantity and quality of the managers.

@Nicholas Reyes I am in the lending industry and can help you answer a few questions.

Buy Fix and Rent opportunities allow you liquidate your funds, but Recently Nashville has had a average gross 48 percentage gain.

I am looking at cash flow of $1,500/mo after all expenses are paid that would be average monthly. 

It’s drastically changed that part of the industry from what I hear.

Thomas, if I knew nothing about credit, I would just follow your model on the 650 fico, the law of averages not only favors your methodology, but the elegance of it puts you in a better spot, should anyone make a claim you were acting discriminatory.

We lost a lot of our tradespeople to other industries when the economy went to poop, and they haven't all come back yet. 

I mean that in  a nice way since I know them well.. but for the average mom and pop its tough .as for booting people out .. you can evict right away even if they file notice of intention to redeem.there has probably though only been a handful of redemptions its just not common here.

It bodes well for your future success in this industry.