but this is where you really have to actually run the numbers. 

Also where is the house located-ie what are the current rules about rent increases?

There are other markets in FL where this may be possible.

At that price I am able to underbid almost any other housing situations available to them, and cover the payment/repairs to the point where I pay less than I currently do in rent.

like - your own market. or a market a couple hours away that you can spend some time in person in. or where you went to college. or where you like to vacation.

Hey @Rosy Baeza, there are lots of areas in Miami where STRs are not allowed.

We live in an area where prices for houses around around $700-1,400 a sq ft (and climbing!) 

Here is a solid case study where one property achieved $242k in revenue in its first year through the art of smart design and strategic amenities.What Made This Home a Standout Success?

I ended up sending an email with a notice to vacate with 45 days where he violated the lease term: "Tenant shall conduct himself/herself in amanner conducive to the peaceful enjoyment of the Premises.

Can anyone advise me on where I should start my journey on house flipping and what the best first step would be?