Unfortunately, the cost of entry into the Boston market, plus it being hot are two strong negatives (at least in my mind). 

It is seasonal, but still steady just different clients, ex.

The comps in the area are strong and support the purchase of the property if I can negotiate the price down a little more than where I have it currently.

Two thoughts:  1)  ask for the bid for labor if you buy the materials.  2) competition is always a strong motivator.

Plenty of other opportunities elsewhere, my clients are involved in institutional grade properties across the country.

The contractors will will be on schedule also, since HD holds the money until the client is satisfied.

. * if I decide to go this route, I would need a realtor who 1) knows Tampa well, 2) who works with investors, 3) has lots of hustle and is responsive, but also has a HIGH level of integrity, 4) who listens well and doesn't waste their client's time showing them properties they know are higher than the client's price range, AND 5) has patience to walk a client through a deal where the client has an extremely demanding job.

Even if you are only interested in being a contractor, fixing this property up right could be a great showcase for you and any potential future clients.

We continue to like large apartment plays in the top markets (jobs/ population growth have been and are expected to be strong) - i.e.

I've had clients take colors from a previous home and put them in there new home and wonder why it doesn't work and that's because of the colors of the materials and the lighting in the new house aren't the same.