Sellers typically  become motivate when they cannot sell the property due to price, defect or simply bad market fundamentals. 

Also, you can find a lot of properties that need renovation, which looks like you’re looking to do.

Key Opportunities in the United States for Investing in Luxury PropertiesThe luxury real estate market in the United States is constantly evolving, and certain states and cities offer unique opportunities for those looking to maximize their investments.

From a 10,000ft view (if it was a real investment property) $29k profit (24% ROI) over 5 years is pretty slim.

I live in brickell and do projects in columbus ohio just moved to miami 6 months ago. happy to take a crack at it. we own all our floorplans as intellectual property starting to look at licensing deals. we design compact well designed homes for investment but miami is a whole other animal 

Quote from @David Cianci: Hello, curious to ask if I should create an LLC before I purchase a real estate property. 

Purchase price: $225,000 Cash invested: $20,000 Single Family Rental Property What made you interested in investing in this type of deal?

A real estate professional can use real estate losses to offset W-2 or other income, but you would need to meet both the:1.750-hour rule – You must spend at least 750 hours per year in real estate activities.2.50% rule – More than 50% of your working time must be spent on real estate.Since both of you have W-2 jobs, it might be difficult to meet these requirements unless one of you dedicates significant time to real estate.Another option could be buying multiple rental properties.

We created a there--step framework for investors to be able to invest passively in any type of real estate.

The next issue I think is we want this property for us since we just got the LLC started once the project is finalized we don’t have enough track record on the LLC or as a business owner to get a mortage or refinance the property under a mortage.