Does anyone here run profitable rentals (long term or short term) and would be willing to share some good locations / strategies on getting started? 

We're thinking we'll need a buyer's agent, a lawyer in Tampa, and a inspector to do pre-inspections before we ever decide to put in an offer.

Thanks, Gary Neely Gary, Just use you standard state contract and write out the terms of your seller financing in an addendum or on the OTP itself if there's lines for additional provisions.Be clear and concise.Example,Seller will carry a promissory note secured by a 1st position mortgage in the amount $97,583.00, at 6% interest, amortized over 30 years, witha a maturity date and balloon payment due 10 years after the closing date.Hope this helps and certainly get an attorney involved if you are not comfortable drafting the language.  

It may seem counter intuitive, but the basics of real estate mentioned above are actually MUCH more important for long term success than the knowledge of any one technique or strategy. 

Guessing the potential long term construction of a new road and housing development with no time line is scaring people away.

My plan there is to focus on long term rentals.

I view my primary as my long-term home, 3 young kids with a good school system, so this is where we are settled.

The wifi is what will allow you to access the door remotely.If you don't want wifi on it, Then you can still get a smart lock you'll just need to pre-program several different codes into it, and then give out those codes appropriately but you'd need to be on site at the door itself to program initially or update it.From personal experience I find the touch screen or wifi locks to be complete POS's that are not reliable and the battery does not last long.  

Does your friend want to rent out the rooms long-term?

The landscape is changing some -- so we are taking certain steps pre, during and post closing to help protect the transaction.We also have hundreds of investors to shop you opportunity to.Reach out and we can guide you along the way.