@Brett Snodgrass   Thanks,this is the mechanical approach I've been looking for.This along with the other advice I've been getting , will help me out.

Not sure but I would assume in FL things like:are they wood frame and what about termitesIf built on a slab (or even if not) what about the plumbing...I think that can sometimes be a challenge--  where I am there is typically a basement so if there is a plumbing problem in the house it can be accounted for, that said, I've had to adjust my offer price a number of times after inspection because the older cast iron drain from the house to the street needed replacedReally not sure how the 1960s electric would be in FL / or what amp service but typically seems okay here as long as it is copperI would spend some extra time on evaluating the major mechanical items --  electric, plumbing, heat/ac, and of course the impact of termites...even still as long as these are known and calculated into the deal you should be okay

Someone putting down the exact same 20% Down Payment may Cash flow the Investment while another will not because of their low income and Credit Scores, causing the Interest Rates to Jump.Personally, I believe the emphasis on the Investment is misplaced.

I think the biggest hurdle oftentimes in Cleveland is not necessarily the repairs needed if priced right (I understand exterior, foundation, roof and mechanicals are big expenditures), it's the margins and perceived value. 

I see this a lot in my area a flipper will buy a house make it all polished minus doing the mechanical right.So, they price the house higher then what other houses are going for.The appraisal is always going to be an issue.I just don’t buy flips because they never do it right.

My name is Michael Geraci and I am a full time mechanical engineer in Manhattan, looking to get into real estate.

A couple years ago my uncle in Grand Prairie, Texas had his eye on a foreclosed commercial mechanic shop and land, which was listed at 600k in a nice part of town.

When you talk about big ticket items - also look into mechanicals, electricals and other items that aren't quite visible to the eye right away.

Second thread posting here (thanks so much for the responses in advance everyone).I am hoping to get some advice on I can apply my mechanical engineering degree that I am about to get in a couple of weeks to Scott Trench's philosophy.

My RE is paying for my son's college at San Diego State and he will be a mechanical engineer in 2 years.