Tell him you’ll do 15k down and X amount each month with interest over X amount of years .

Would you borrow big amount of money to someone who doesn’t have any savings ???

Hey-- I have spent a lot of time in Miami growing up and have also done a fair of amount of scouting for AirBNBs in the area.I feel Miami can be a good market, but you'll face a couple of issues:1) HOAs will usually not allow this in any building2) To do it legally, at least on the beach, you will likely need to buy in a Condo Hotel. 

If they do the closing they will charge some set amount.

It exists because it is basically the minimum amount that can be used to transfer title.

Once it is released you pay the contractor the amount owed. ( Same with Lowes once the draw is released you can pay off what is owed to Lowes and get the materials for the next phases)

Water rates in the area are high and also include sewer based on the amount of water used.

It shouldn't change anything, as you need to get the home for the amount that makes the deal make sense.

I drove around neighborhoods (driving for dollars) and collected a good amount of addresses. the problem i am having is finding the owner of these properties.

You'd also have to consider selling or renting your current house.There are other things you can do with that amount of capital, but these two seem to fit your stated goals best.Feel free to give me a call if you want to chat.You should check out the local meetup too, you'll find a bunch of locals (and vets) that are already actively investing. https://www.biggerpockets.com/forums/521/topics/59...