They updated the plumbing, heating, electrical, and fire alarm systems.

@James Park Apartments better to have 1 heating system, 1 roof 1 landscape and extra zeros.

Most properties don't have A/C or heat, so much less maintenance and capital improvement costs.Bottom line: you can find deals anywhere (including Raleigh or Austin), you just have to know the market and be persistent!

Huge difference in lifestyle and investment opportunities/markets between South Florida (Jupiter/West Palm Beach and south to Miami and the Keys), Central Florida (Orlando), North East (Jacksonville, Saint Augustine), Panhandle (Gold Coast, Destin, Fort Walton Beach), West Coast (Tampa/Clearwater), I'm sure I'm leaving some other areas out but those are just where I've passed through in my time…There are a lot of people here on BP that both live and/or invest in FL so be sure to search the forums and seek them out.  

Let's PM to coordinate a place and time.As far as your friend's place, in those numbers there is no room for capital expenses, regular maintenance, utilities (in NY heat and hot water must be supplied by the landlord), or vacancy, so I wouldn't consider his cash flow to be $300/month.

Who can recommend a good team here:Real Estate AgentProperty ManagerLicensed and Bonded Contractor that can inspect, install, do repairs (general contractor, pluming, heating/cooling hvac, electrical, locksmith, etc, cleaning, etc)Insurance AgentBTW, I am flying to Cincinnati this weekend and will be there Monday 6/23 and would like to meet and talk to you to gain your insight.Thanks for your feedback in advance.Krysti

What if while you are trying to evict them, (assume it's December by then)  The heating system quits and you need a new one? 

Hello im Luis from Miami, Fl.

If at any point during this transaction things get heated, immediately just say "Hey, looks like we can't come to terms, let's just forget about the deal and go have a beer".

This is usually only true when the repairs are of a significant nature such as no heat, hot water, cook top, etc...