Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I had never thought of refinancing it with another lender This will depend on what your overall exit strategy is, also I would make sure you have several options in case the land stops appreciating.

The bottom line is you shouldn't use any of these strategies without proper education or hiring a competent person to guide you AND you should have the ability to reposition the debt IF the sellers lender calls the loan due.

Aside from the traditional long-term rental, the borrower could opt for a short-term rental income strategy instead, in order to generate higher cash flow in a peak period and then sell the property before the 12-month loan term expires.

It really comes down to the strategy from the client and it always varies.

Secondly, "My 2 main interests in real estate are flipping and short term vacation rentals" - these strategies are full time jobs.

Given the current market, starting with MTR or STR  for the first year or two until the interest rates become more favorable for long-term strategies.

I'm a 2x house hacker here in Los Angeles (and a case study in the BP House Hacking Strategy book).

I am writing to seek guidance and advice on venturing into the world of real estate, particularly focusing on flipping properties and the BRRRR strategy.

My main concerns about Florida include: Chinese Drywall (very toxic; found in older homes); HOA Restrictions; Lots of people/crowds; sinkholes (properties sinking into the ground); Red tide (dead fish found on beaches due to algae bloom); Homeowners Insurance costs (w/older roofs); Mold; Hurricanes/Flooding , New construction (not always built to quality)... these are the most common issues found in the Florida market.What zip codes would you recommend for a single family investment property under 300k to mitigate these concerns?