When the local "cat lady's" house came on the market after she passed, we looked at it, decided it would be a full gut job and walked away (estate wanted too high a price).The fellow who bought, tried to clean (enzimes), ozone and prime (Zinsser) but the smell came back - again and again and again.  

You will need to put some of your own money into the deal to attract any lender.

I've looked at Florida (because after this miserable Winter, that's where I'd like to hang out 4 months a year), but because I'm not that familiar with the state (I've lived in the same area my entire life), it's a bit of a challenge to ascertain what the strong rental areas are (beyond seasonal rentals, near the attractions).

What type and quality of renters to you want to attract?  

Does the physical building have anything else that makes it attractive?

Just got a quote today on a lady refinancing 2 of her properties. 

A sign in the yard works too, but I find I am more likely to attract the tenants I want with the online.  

Crazy cat lady had been a tenant for over 6 years.

Of course, if it is an attractively priced house, you are competing with other, often better offers and the seller might ignore your offer and go into contract with someone else.

Buying one rental property a year is more than doable.Just make certain you are buying them in desirable areas which will attract responsible tenants.