By selling the property now, you can avoid the time, money, and effort required to make repairs and potentially deal with ongoing property management responsibilities.On the other hand, if you are willing to invest in the repairs and potentially hand off the property to a property management company, you may be able to increase the value of the building and generate higher rental income in the long run.

Physical location doesn’t matter much, but having experience flipping houses in Florida is a definitely plus. 

My list of required repairs was 70+ after that first inspection. 

Also, the good thing about primary is that it only requires you to put as little as 3.5%-5% for properties up to 1-4 unit or 0% if you are a VA.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

The most common way around this is to get a DSCR refinance, which requires 3-6 months of seasoning.

Given your circumstances, the following advice and considerations apply:Benefit from low interest rates, no down payment required in most situations, and financing for up to four units when you take advantage of the VA loan.A thorough grasp of your budget should include the purchase price of the property as well as any possible maintenance expenses and other related expenses.

Learn all you can from resources like BP and other forums, then marry that with some old fashioned physical labor.

Other purchase programs will require the 20-25% of the 200k.

I'm looking for LTR seller / owner finance deals that require $10k or less in down payment and that don't need much rehab (at maximum light rehab).

For LLCs that are required to file and don't -> IRS failure to file/late filing penalties are $70 per member per month.