The cost is minimal.  

Use someone or a company that is responsible to minimize this risk.I also have my place cleaned as soon as someone checks out so that I am ready for the same day check in or a last minute booking.

Looking to purchase a MFH in another state because it's a lot more affordable than Florida's current market.How would you go about researching the quality of life, crime rate and overall safety and feel of a neighborhood when looking to purchase a property in an area you're not familiar with.Of course, before purchasing the property, I'll go and visit but I do not want to waste time (and money) going to a bunch of duds, if there is an easier way to get somewhat of an idea on the area without actually being there.

The issues I would like to address are affordable housing, minimal/sustainable living, and strong sense of community.  

@Jared BakerMake sure you do your due diligence on the 8 unit but if you are able to acquire it with a minimal down payment and owner financing, it could be a deal.

It also has turned out very well for the minimal dollars we put in!

You want to minimize the chance of being without a chair if the music stops (and having to chase the market down to sell).If you don't have a lot of experience rehabbing, which it didn't sound like you do, then I'd say it's safer to stick to a smaller rehab.

We real estate accountants can help you minimize taxes, but we won't tell you to buy (or not buy) a particular property out of tax consideration.

@Calin Segarceanu My best advice is to:1) Find an insurance broker who is licensed in all 50 states2) Narrow those insurance brokers down to who has a person who specializes in working with investors3) Create a relationship with that person/brokerage to maximize your portfolio efficiency and minimize the amount of time you have to worry about insurance during an acquisition.Feel free to message me for more suggestions!

You want to maximize the protections that you have as a landlord and minimize the recourse that the resident has against your debt.Still, best practice is to call a Florida lawyer.