Nothing is passive and even US treasury bonds which are considered the safest investment require one to monitor the economic climate.

SBA , Smaller Banks it would have be Commercial Loan sure they require something down will be required unless you have some relationships already 

I've purchased properties via auctions, foreclosures, sheriff sales, you name it :) Miami is really expensive right now.

None of the expenses are exact but I am hoping to verify that my big picture idea (line 35) is correct and that I'm not missing any glaring issues.

That may be your biggest expense if the garage is already insulated.

Standard requirements for such investments typically include good credit, relevant experience, and a 20% down payment.

Oftentimes, your lender will have certain requirements they need each property to meet to ensure that they can finance the deal (it is the worst to get an ineligible deal under contract).

These are expensive lessons and you will gain alot from it.

I have also found deals that require minimal work yet they are priced way below market or, with the minimal work that needs to be done, can be resold for much higher.Like I always say, you may not find a deal each and every time you are on the MLS, but with a "trained eye" one CAN find deals on the MLS

It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.