Purchase price: $66kFinancing: Private lender (100% @ 4.25%) - P&I = $324Settlement Charges: $2763Anticipated repair costs: $5000-10000 (depending on how much I do myself)Anticipated rent: $1000-1200Thanks BP community for all your help in navigating this process.

I have had recent success with a house in a higher-end location on a navigable canal near a beautiful waterway, here in Florida. 

Most of these people are in a tough stretch and just need to get out; occasionally it's the family of a relative who has passed away.You can chase auction leads too, but I find that there are a lot of sharks in those waters.

There is a lot to navigate, but you absolutely thinking about it the right way.

Watch for sharks in these waters.  

Hopefully soon I will be savvy enough to navigate the site properly to get the most from it.Thanks again!

I could need some guidance navigating in this field.

How you'll get the most out of BiggerPockets is to understand how to navigate through it and understand that it's a two way street.

@Rhiannon Then find your settings and then navigate to your "Keyword Alert"s.

You just have to have a 1,000,000 insurance policy, notify all "adjacent" properties, sign an affidavit, prove you own the place, designate a manager, pay for a permitIn my opinion, it's a great place to STR if you can navigate the regulation.