$1200 rent on a $170K property is too low, you have too much equity in the property and need to pull it out if you ever want to see any true cash flow.

Also I agree on the REITS being a low ROI my father in law is kinda just pushing me into trying to invest in REITS.

I'm performing a 1031 Exchange from California so real estate investment with relatively low time requirements is a must.

The second and more nuanced dynamic is that the 04 season followed by an equally nasty 05 spelled the peak and end of the real estate boom in Florida.  

Hey Ryan, How did you get such a low rate on a commercial property?

I would borrow 30k for between 6mos and a year (the seasoning term before a refinance).I know it's all negotiable, but we just want to know what's typical?  

I grew up there, so I have some familiarity with certain neighborhoods.I don't have a lot of capital, but I have an extremely excellent financial history with a high credit score and very low DTI.Time to wrap up, don't want this post to get too long.I'm looking forward to interacting with all of you on the site, and here's hoping I can make this work with your help.Thanks,- Ray

You can use another portfolio or hard money lender that doesn't have any seasoning requirements to pull more cash out prior to your conventional lender's seasoning periods end.Edit: Also, you shouldn't have trouble getting a hard money loan based on your experience.

The monthly cost is kept low and is a workable system.

getting this at $80k would be a steal of a deal so unless the seller has some me serious motivation for accepting such a low offer, they are better served listing it with an agent and not going the FSBO route.In this competitive market, good luck finding deals at 70% less repairs, less your wholesale fee.