We knew we could increase the value day one with some basic cosmetic updates.

Unless you are flipping high end homes you do not need this.

I signed up to help provide more value to my home building company by buying raw land and not being beholden to the market for finished lots.

For a residential (1-4 unit) deal, a "buy and hold" duplex for me (without driving value via renovations/BRRRR'ing) would be CoC between 8-12% and/or about $250 per door.

Next year, I expect the the tax bill to be around $15000 as it is an investment property.I didn't see too many people talking about this topic in Florida.I don't think the property taxes would jump that high in one year because it's an investment.

But, especially in this high demand market, you need to cast as many nets as possible and, likely, take on what feels like more risk.

I suggest doing some market analysis to find a market with good rental laws and lower property values, and try to invest virtually.

I would highly recommend @Daniel Hyman

You can get DSCR in the high 6s depending on LTV, PPP, and Property Type. 

Fair market rent in this neighborhood was 1100.00 on the high side and more realistic was 950 to 1k.