There are closing cost so either you will need to pay all those or have some downpayment to cover them otherwise the seller is paying to offload it. 

 $150/month is nothing… and given your closing costs of say $16,000 if you sell, it would take 8+ years to recover that $16,000 at $150 per month.  

I am in Florida as well up in Pinellas by the Gulf Beaches and know that Miami is costly!

Hi Wilson, I'm using Guesty for Hosts now, but's a low-end, dated solution that's, increasingly, being positioned as an on-ramp to a higher-cost Guesty for Pros upsell. 

This mistake has cost me a boat load of money.

Currently I hold a few rental properties in California, but I am looking to expand out of state mainly because of the cost to acquire new properties in California has made it difficult to grow here.

There’s an observed increase in sales volumes and a moderate appreciation in house prices, coupled with a significant interest in affordable housing in the search data.Opt for cost-effective updates that improve structural integrity and aesthetic appeal, such as new fixtures, fresh paint, and updated kitchens and bathrooms.

@Imdhadur RahmanAre you looking for straight purchasing at 90LTV or fix and flip purchasing at 90% of the purchase price and 100% rehab costs? 

Closing costs, title insurance, appraisal, and recording fees etc.  

It sounds like you need either higher rents or lower costs.