Very useful view.Curious, where are you pulling numbers for local mortgage, insurance, and tax rates?

Quote from @Kyle Carter: The comps that come from local real estate agents will be the best for this one.

Since you're already in Tampa, staying local for your first few deals can help you stay hands-on and learn faster.

The best thing you can do is listen to the BP podcasts, read through some of the forums and attend some local meetups to connect with other investors.

so, good inventory gets snapped up by locals before OOS investors even get a look at it.

I am going to see if I can switch to a local Wisconsin insurance that reflects our local risk level in their premiums.Many of the homes in the Pacific Palisades are 3-5 million, but when you look on Google Street View, most are very modest homes from the 1960s (there are some $20m ultra luxury mansions too), so a lot is the land value, the home replacement value on a 1600sqft may be what - 500k at the most?

I like markets with diverse job drivers, and it is always helpful to have major corporations locally. 

Find a local meetup is your first step.

I've spoken to a few local attorneys and they have never heard of that.

For example, you might leave $10,000–$25,000 in the deal, end up with a $3,000 monthly payment, and only collect $3,000 (or slightly less) in rent.This applies to my local market and primarily to Class B or higher real estate.You’re better off finding a solid property that needs only light cosmetic work (e.g., paint, flooring, or perhaps a kitchen or bathroom remodel), buying it at a decent discount, and putting down at least 25%.