I'm also looking heavily into Laporte, I feel buy and holds in Duneland and rehabs in Laporte are my focus right now.

Hi, I'm interested in buying properties outside of my area (South Florida). 

I am debating if I should buy a decently priced home in Florida using a mortgage, rent it out as soon as possible, and have a tenant(s) pay down my mortgage until I am ready to move in and have the mortgage either paid down or nearly paid down.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Not quite on the level of SBF or Madoff buy up there for our industry. 

@Bridget McGingAt some point, you have to just do it and buy the first STR and learn as you go.

The best way to protect yourself investing in NYC is to buy higher quality assets and require exceptional credit credentials from your applicants to obtain approval to rent.

Buying an existing place that needs upgrading might be more sensible but it will still cost a lot of dough.Plus the purchase of the catamaran.

And here is a video that helps understand how to get the 100 hours for material participation.Another way is to buy a property in a company name and utilize section 469 grouping activities.

My mom sold her house and downsized and rather than buy a rental, she put the money in a savings account.