It could be improved to be two additional offices very easily.Is it a good idea to offer to renovate the space FOR them in exchange for a longer lease and higher rent?

Cosmetic improvements or full fledged gut job?

I'm sure that the quality of my list will improve after that.Step 2 - Finding Quality DealsBetween MLS searches and auction sites like auctiondotcom and hubzu I've been able to find what I consider to be potential deals.

markets go up and down. the improvements you made should command higher rents, your realtor is not an appraiser and while she can do comps she may not fully realize the value of your improvements. 

If it still cash flows alrigjt you can improve it later if you dont currently have the funding.

It almost feels like New Orleans in some spots.The Creekside part of it was formed in 1993 as a nonprofit effort to improve the quality of life in the area.

If you were starting as a new REI, where in Florida would you move in order to improve your odds for success?

The concern for the cap rate I would have would be the increased cost of financing any improvements.

What about if improvements were done to the house in the meantime?

Any noticeable improvement in on time/full payments?