Then I could keep his/her deposit money and any capital improvements put into the building.

Build a team of people to help; an agent who isn't trying to talk you into every opportunity and knows how to analyze a deal; a lender who offers you all the possibilities; an inspection company that can get things done quickly; finally a property management company that comes with good referrals.

Three apartments and a downstairs bodega on the first floor.

If not, it should have been part of your due diligence to request a loss run report.In any case, if the building is good and your property inspection report is good, and the price is right, just close the deal.

I get a leasing fee ( equal one months rent) and 5% of the collected rent.. however I get no pay for raised rents ( which I determine and raise yearly) nothing for repairs or work done to the apartments. so its basically the 5% and leases.. and since I took over we went from 30 % vacancy to we are at full capacity with a wait list, and I raise the rents by almost 70% in the last 5 years. ( yes you read that right) .

As a note... there are properties on the island that are "luxury" but per building department officials my house is the largest residential house on the big island with the biggest residential pool.  

If you have any questions regarding building codes, interior design or real estate, I can help.

New builds in Florida are a smart option because they will have much lower insurance right now, but that also means the cash flow will be lower and appreciation stunted for a while.

I am good at building a relationship with someone and getting them to open up about their situation and then I’m really good at coming up with creative solutions.

Along the way, I've been diligently saving and building my credit with the dream of owning my first property.