For me, when you factor in insurance, the FL market is just not where I want to be.

You need a house checker to flag any big problems and to plan your spending.

As with any business having a mission, strategy and plan with guide success.

I plan to use a refinance on my current cabin to fund the downpayment on the next property.

just be cautious when it comes to using these. ensure you've got a plan to pay that balance back in a relatively quick fashion as most HELOC rates can fluctuate which could make the numbers suddenly not work. i've leveraged mine in instances where i'm doing a BRRR and i want the deposit for a private money loan. i'm not using it as my downpayment and leaving it out there for a long period of time. 

I have put together budgets and started a business plan.

." - Without any numbers for these strategies it's just an idea, not a plan.

Planning on 25% down.

In Florida, you have to be a licensed RE broker to manage property for property owners, which adds thousands of dollars a year just to stay licensed: state required license fees, CE, insurance, Realtor dues, listing memberships, public-access office, etc.Additionally, property owners expect much more from PM's than in past years.

It makes common area insurance more expensive, it can affect the availability of mortgage financing, and it significantly increases the association's administrative responsibilities.