You will go positive at $110,000....but barely...get the number down to $95-100k and then you've got a property....As you mentioned you're searching the MLS...many of the good deals there get picked over really fast...especially when the market it hot like it is now.

 @David Ahrens 8% takes some work in Omaha. 10 months ago you could pick properties up off the mls and turn the key and get 8%.

I went to a REI class this weekend and they stated FL is a super lien state and in many cases would clear the first mortgage IF the mortgage was after July 2008.

I’d buy two multi family homes in c class neighborhood

Who knows; there are lots of reasons why people are able to pick up properties cheap. 

It's a strong C working class neighborhood and fits the niche between the B properties ($900+) and D ($500-) class.  

Well, maybe something with a 3% return in an A-class neighborhood.

Pick a solid B-Class suburban area.

Also, there is no harm reaching out to some of the larger banks you plan to use for the re-fi and pick their brain.

Also, since my cash on cash return is not stellar, should I just pick my percentage of return and just work backwards to figure out my max offer?