My only concern from a financed investment standpoint is if a major hurricane did directly hit the island then we would be at a complete loss with no insurance to replace the investment.

But I want to cash flow more somehow in thousands  not sure on your capital funding for Miami but if you have the capital and backing I'd look at development for STR towers in the 50-100 unit range. you can get lots around 1.2 million that you can go 12 stories on with structured parking in Wynwood right now that you can build a 15 million dollar asset worth 30 million. you can do the condo exit or hold it as apartments and permit short term rentals. there are some great articles about short term rental occupancy. miami has 22 renters for every 1 available apartment and has the #1 net migrations in the state of florida for cities and florida is the #1 net migration state. it is land locked and developer friendly. it's under built.

I’m new here and looking to break into real estate.I’m currently living in Long Island with my home and I’m thinking about moving to Jersey where it’s cheaper but I don’t think I want to sell my house in Long Island.One part of me wants to rent my home and turn my home into an asset but the other part of me wants to sell it take the profits and run and reinvest into the market in Jersey where taxes etc are drastically less.I’ve had my home for 2 years now and I’m pretty sure I can get well over what I paid and have profits.my other concern is that ny is a tenant friendly state so if my renters stop paying I’m left paying the mortgage here and My new location.Any ideas or suggestions?

@Agustin SilveyraFisher island or Indian creek

Now that I'm here in the mainland U.S. rather than stuck on an island, I have  more wiggle room for my endeavors.  

I'm trying to do the same thing, live and work in NYC, I'm only finding deals way out in Brooklyn or on Staten Island.

I am an aspiring Real Estate Investor in the Cayman Islands, I am currently working towards purchasing my first property before the end of the year.

I am from Long Island but looking to invest here and venture out to the boros.Let's stay in touch as an ever broadening positive circle helps success.

Hurricane Harvey is landing in Houston within 48 hours what should I expect from my tenants and from my rental property in Cypress TX.

Thanks all,  found a credit union on long island that will do it with out any closing costs.