Then tell the agent to run comps for ARV based on updates you do.And you also said you can't afford to lose $20-30k, the most seasoned flippers/investors lose money all the time, and ultimately that is part of your education costs, hopefully you don't make any costly mistakes, but you have to run your numbers well enough to make sure there is some 'ooops' fund to help shield you from that.As for comps, typically, appraisers want them to be in the same neighborhood, within 15% same square footage, same # beds/baths and age.

Any profit the investment receives is returned based on this percentage of ownership, and the IRA would be responsible for its percentage of any expense associated with the investment, too.

My current portfolio is in the Twins Cities and Duluth, MN however Im open to other locations as long as it comes with a strong property management referral that I can connect with.  

Definitely talk to a Florida based real estate lawyer if you are unsure what to do though, a quick phone call to one shouldn't cost you anything.

@Leif Norris it is interesting, based on your post, the former owner lost it to tax sale at least once before. 

During my training, I developed a strong understanding of the principles that lead to successful STR management.

I'm not a fan of shopping lenders solely based on pricing because service is VITAL with lenders.

This does not necessarily mean they will not sell, but if it is in BK it would need to be approved by the trustee, and depending on the type of BK they filed and the size of the unsecured creditors the trustee would only allow it to sell to the public to get the best price because - they have to make sure they get what they can for unsecured creditors AND the trustee is paid based on what is sells for, so they will want it to sell for more.

Generally there are three categories of multifamily investment properties – which will greatly determine your loan options.These three categories are based on the number of units at the property.2-4 Units: While these are “multifamily” properties in the sense that there are “multiple units” – you will generally have very similar options for financing to traditional residential loans on single family rentals – think the traditional 30-year fixed rate conventional option or DSCR Loans – and the coveted 20% down payment option too.

Here are some strategies that could help you connect with potential investors through a forum like this or other networking avenues:Build Your Presence: Start by actively participating in discussions, sharing your experiences, and offering advice based on your own real estate dealings.