I'm not sure where you can make 10% gross yields in Miami or any gross yield close to that unless you go for short-term rentals but I'll leave people who know that market to comment on that part.I love investing in Spain, especially in the Costa del Sol, which I call the Florida of Europe although most call it the California of Europe, alongside Portugal's Algarve.

If the OP does a lot of the work themselves, then they may be able to do it for close to the OP specified price.

I'm closing shortly on a $2M ground up new construction co-living concept (Class A), where the tenant base will be all on MTR leases from 30 days to 180 days+, targeting the demographics that you mentioned above. 

If between the 4 of them they can't get the deposit and 1st month's rent together this close to move in, they are going to have problems down the road.

Hello everybody I’m getting ready to close on my first property.

My wife Karolyn and I started Real Estate journey in April 2021 with bigger pockets, and we have since closed on 75 doors, Multifamily and Single Family.  

I partnered with one of my close friends who is a contractor.

After closing costs and any other fees, you're losing money.- Worst case scenario, $150k purchase, $40k rehab (or more), $170k value, you're losing a lot of money.IMO, I would pass and look for better deals. 

Thanks to super weak governance during the BLM riots Antifa and homeless.. allowing open air drug use ( legal drugs) and the killer theft under 900.00 is not enforced causing rampant thievery and many stores to close kind of like We see in the mid west and rust belt when neighborhoods change and retail exits as its not sustainable.

Thanks for this info, used for deal analyzing and will be calling agency to get a quote just to see how close these numbers are/aren't.