Or a combination of them both.   

And now you're in escrow, and suppose this year your YTD that includes the completed months of Jan/Feb/March totaled out to $15k (you made $12k in Jan, but only $3k in Feb/March combined), which is $5k/mo. 

If you, as a landlord, offer a clean modern place and take care of it, there are tenants that can meet or exceed your qualifications.

You can do a Fannie Mae HomeStyle loan, buy a place for 85% LTV -- combined purchase and rehab costs.

Originally the lender and realtor decided it could be combined and so I went through with signatures.

I don't know the Orlando market but I do know FL has very high insurance rates, much higher than Kansas City so be sure to factor that in to your analysis, I do know Kansas City very well and can tell you that it has a good combination of both good cash flow and strong economic and demographic trends.

For example, if you select a Solo 401k provider which allows for voluntary after-tax contributions and in-plan conversion to a Roth sub-account (and you have sufficient self-employment), you would be able to make a combination of Roth and voluntary after-tax contributions for 2019 which would result in up to $56,000 (or $62,000 if you are 50 or older) in your Roth Solo 401k sub-account.  

Most foreclosed homes in our area is now through a combination of bidding and mls through an auction firm with a local broker presentation.

My aim is to turn it into a vacation rental - keeping that old mining town feel but totally adding modern amenitites and comforts - with gorgeous mountain views. 

I could propose to them I rent the downstairs room for $800, and the couple pay $800 each, $1600 combined.