You'll also need money to carry yourself through non-peak seasons when rent is not being collected and you've got utilities that are still running. 

I currently have my accounts with a big bank, mostly because they carry my personal mortgage. 

We require her to carry the insurance and the insurance company has our LLC listed as lean holder so they will notify you if they don't pay, cancel or change coverage.We have next to nothing in the property and so the cash flow is nice.I would recommend this niche of the real estate market because the price of admissionis so low.

From what I understand, even if just a small part of the land is in a flood zone then one must carry flood insurance no matter where you put the house on the property, is that true, it was told to me by a realtor?

In Florida, any rental under 7 months of rental by the same person is technically a hotel, which carries zoning and tax implications.  

Originally posted by @Carrie Anderson:Hi @Julie Sauter, welcome to BP!

The purchase price is $1,075,000 with the seller carrying a 2nd of 386K (4% on a 30yr) and a bank financed 1st of 689K (4.5% on a 25yr).

Originally posted by @Carrie Giordano:Replacing the furnace not only will add value but could help buyers choose your house over another. 

Defeats the purpose telling a judge she can't pay rent, but he'll offer to sell and carry the financing!

And when I got my real estate licence, the buyer and seller clients flocked to my office..........Wait, I just got carried away.