Don't limit yourself on your option period.

Dodd Frank limits you to seller financing 3 per year in your own name.  

Although I do not want to limit myself to only flipping, eventually I want to start a real estate company.

There are certain limitations, though (i.e cannot put in a swimming pool, etc) But if you want a new roof or new appliances or new furnaces, then you can definitely do all of that with the 203k.3.

Rusty, rent control is limited to certain age and type of residential units.  

Many plans do offer this option, but the loan is limited to $50,000 or 50% of the balance in the 401k, whichever is less.

I could safely set a goal of $3k net cash flow in 3-5 years but why set a limit if there are ways to bring in 5k or 10k?

So I assume this would not be a wise purchase because it would limit my resale opportunity?  

Instead, I was able to live in a much nicer place because there is a limit to the rental market that does not seem to apply to owner occupied homes.

I am not limiting myself to Orlando currently.