I would rent all units as we have a home we own in winter park.

I'm in Ohio so I know winter rentals are more difficult, but they're not impossible. 

a little more work, but i get to use the house in september and the winter months to get out of the city.Now. my question.............i want to buy another 3 unit MF, which has 2 tenants included and the seller is willing to hold the note.Should i do a cash-out Re-Fi on property #1 which is paid off?

If Tampa is a little farther than you want to go look at Deltona, Poinciana, Winter Haven and Lakeland.

My frist flip I was 19, did a couple more after that.Owner of a construction / trucking Co. 1993 - 08, during slow times (winter) I would buy fix & flips, to give my workers extra money, I was the GC and salf funded all projects. 

Also, spring is here, and history has shown me that prices increase significantly from now until winter.

I am happy to live in a place where persons from across the country pay to spend time in the winter.  

I have a 5000 sqf house that's all electric and my biggest bill in the coldest winter ever in 10 years was about $450. 

I think I have just about everything captured, but being new at this I'm not sure and am looking for some feedback.For expenses, I have the following broken down by month:InsuranceMortgageAccountant fees (for taxes)Cap ex (5% of monthly rents)Electricity (tenants mostly pay, but if there's a vacancy I pay during that time - I've budgeted $240 a unit per year, being really conservative)Specific fees to the town I'm looking in (storm water, unit registration, etc.)LandscapingLegal (trying to go with the "family office" that reviews leases, management agreements, etc. to make sure everything is up-to-date)Maintenance (electrical and plumbing - have this as 3% of gross monthly rents)Management fee (10%)Propane/heating oil (tenant pays primarily, but if there's a vacancy in the winter...)Property taxSnow removal/shovelingVacancy rate (5%)WaterI'd really appreciate thoughts on what I may be missing and whether I'm not budgeting enough for expenses like maintenance or cap ex.

Having her stay over the winter as you were rehabbing works well and that is what I did with my last tax auction property too.