THEN, I plan to purchase the second home using a FHA or conventional loan (3%-5% down), for which I will likely pay the monthly cost out-of-pocket, maybe with some rental income support if it is a duplex.My concern is, I do not want to spend my savings or weigh down my debt-to-income ratio so much so that I cannot qualify for and pay the down payment and closing for the lending on the second home.Questions: - With the first home being multi-family, 75% of the rental income (or potential rental income initially) will relatively either maintain or boost my debt-to-income ratio from lenders' perspectives, right? 

That said, weigh the cost of renovations against the potential increase in appraisal.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

We are always look to help investors and potentially partner on some flips.Wow small world.

It also makes things cleaner with other potential heirs. 

The case study illustrates the potential for exponential growth through house flipping by reinvesting profits. 

Let’s connect and chat about potential opportunities—I may have some suggestions that could align with your goals!

For most people this will require a lawyer.

I can provide you with some CPA and lawyer references that support real estate investors.

I have them tell me how long a project will take to complete, and then I add buffer days or maybe up to 2 weeks, depending on how long / complex of a project it is and potentially accounting for weather if it is outside work.