I'd also learn a lot about maintenance and managing tenants.Then, with my hands-on experience, I could decide if I wanted to repeat the process or target 5+ units - which my experience would help with lenders.Good luck with whatever you decide to do!

Hey Tommy, It depends on how the townhome looks and where exactly is but that price point should be right on target.

@Edgar Garnys getting I/O loans to defray the cash flow burden - targeting 7/1 or 10/1 products to create sufficient time buffer.

But - is there an opportunity in this market (as a real estate broker) to lead with seller financing and target sellers (say 70, 75, 80 YO) and specifically market thier properties to qualified buyers....seems like there could be many benefits to the sellers and IF they are open to being on a fixed income, not much of a downside since they are protected and earning interest on their $$ (many landlords I know are more comfortable with bricks and mortar than ()stocks/bonds/equities)  anyways.

If I found a property in a specific area I was targeting it may go down.

I would start contacting owners in your target neighborhoods.

As an agent, who is your target audience? 

The target market with the lot price point and the building Covenants are people who have the money and are not as impacted as other home builders. 

What part of Florida are you targeting?

I set out to target tired landlords who are interested in selling but also want to keep an income stream.