Anyway I can only imagine this market will burst once rates drop as we've appreciated 10% YoY on "higher" interest rate environment.My 2 cents on your acquisition: Miami and Broward have many upcoming developments and it helps to know where they are being developed, as we all know, location is #1 and it helps being in the path of progression and gentrification. 

@Brett JurgensSolar on my house would be around $40k and my electric bill is not even 200.

There is still very high demand in many markets with rates coming down and lower than normal inventory..

anything you can share would be appreciated  Here is what can go wrong. 

My plan is to purchase a house hack in Worcester, MA, within the next year.

There is a HUGE difference. 

Unfortunately it is almost run backwards and if the investor makes 80k+/year then you aren't eligible for almost all of it.

@Dan Kim - There is guy that does education/tutorials on developing business credit.

That way you're not locked into the deal without getting an estimate and if the rehab budget comes in higher than $65k you can easily walk away- make sure the assignment says EMD is refundable if you do decide to walk.The 70% rule is a great rule of thumb.

This is a better baseline to get for future projects.