Bottom line, there's a ton of risk involved and you'll need deep pockets to deal with any issues to complete construction.

There's an indicator in those that goes red when they've sucked up as much humidity as they can handle and then you just bake the humidity out of the bag of dessicant until it's ready to go again.

What novice investors and "seminar" wholesalers don't realize is that you need to have a deep understanding of your market and what a truly good deal looks like before you can market a wholesale deal to other rehabbers. 

Excited to have found this forum! I’m an architect in Chicago looking to get on my feet on the development/ownership side of the industry. Ultimately my goal is to work as an “Architect-as-Developer”. It’s frustrat...

That to me sends a red flag.

It needs minor repairs (carpet changed, deep cleaning and paint interior).

Told the broker there's not enough in it for me.I doubt the seller isn't dumb enough to do such a deal, but if he does, it'll raise so many red flags.

There are actually 24 incorporated municipalities in Pinellas County, and each City/Town has its own rules and its own red tape.Here are couple of interesting articles on the subject specific to St Pete and surrounding cities:http://www.tampabay.com/news/business/tourism/st-p...In short: "renting a home for less than one month is illegal under city code.

Red states, traditionally, have good rental cashflow relative to purchase price.  

Many people are grandfathered in or just ignore these restrictions so be mindful of that when comparing feasible rates.Before I set up my 2 airbnbs in Portland I spoke with Vacasa and they were very conservative on adherenung to all restrictions and red tape on vacation management.