Florida insurance rates are through the roof so that that into account.You might want to consider the Myrtle Beach area which is very popular for tourists.

Renting out your current SFH would be a great opportunity especially if you have a lower rate.

I got this house at such a discounted rate because of the shape that it is in and because it was a friend who I am trying to help out.

. :)175 pprehab  30kcontingency 5k at least 6 month hold  depends on how much your putting down but lets figure 10k there.buyers in this price point almost always need seller assist on financing so 5k there.and then 7% sales commish250K X .93 =  232k  - 50k  has you at net loss of 18k.. 

The prospects for appreciation are limited (probably below the inflation rate), your tenant pool sucks to manage from out of state, your risk is high because you don't know what the heck you're doing - none of us did on the first go; that's not personal - and your flippant verbiage is treating this more like trading stocks than buying property. 

Cash flow is obviously so dependent on the purchase price or adding value to an existing property.

Hey Chinmay, Depending on your FICO score, annual taxes, insurance, and property location you should be able to qualify for a DSCR Cash Out loan. 

Location, property condition and amenities can cause a wide range of rental rates for similar layouts (2 bed 2 bath for example).

Our current interest rate is 4.32% with a 15 year note.

You get a separate (small) bill from Guardian for their service, but the cost is incorporated into the billing rate that Guardian charges the tenants.