It was a C-class property and had lots of deferred maintenance, but over time these got worked out and it was just sold as a B-class with more than 200% appreciation.We bought well and required a positive cash flow on day-1 (ie the break even point was 70% occupancy). 

My last position made it nearly impossible to manage 4 doors.

I do signicant market research and there are also many other variables that I consider before moving into a new market...but these are the primary reasons (population forecasts and job forecasts).If you'd like to meet and further discuss, I might be able to make time for that.  

I admire your determination to get the situation on the right path to make it a positive experience and to expand into other real estate investing.  

Just curious because I may end up doing one with my primary residence that is if I can.

. - If you can even get a 10% discount from market value then you get an additional $200.00 positive it might a good deal depending on how long you want to hold it.- Another way to look at it is, there are some other markets which are offering turnkey rental @ the 1-2% rule with discounts.

The property is directly beside the elementary school as a positive.

.- I would get a lender's title insurance policy to make sure you are indeed in first position and the person/entity you are lending to is the owner.- Borrower pays all closing costs, usually subtracted from loan proceeds upfront.- Make sure the interest plus points doesn't exceed usury in your state, I don't know what it is in Florida.

Sounds to me like the neighbor has a "dream" of buying the house but isn't in a position to do it now. 

Duplex with positive cash flow. 1st property ........Thanks,Joan