Hello, My husband and I are starting a property management company in the Jupiter, FL area.

Did I properly estimate the cash not only to buy the property but also the six month reserve funds that some lenders are requiring for non owner occupied units?

I'm a Radiographer In military manufacturing and put together a budget so within a couple of years I want to take the jump into owning a property and renting it out.

Wanted to know if anyone would be willing to recommend RE attorney in South Florida from West Palm Beach to Fort Lauderdale who has experience and would be able to assist with:- review and advise on current leases in place- company formations being that also licensed sales associate- review and advise on trusts- advice a preparation of private money lending docs- property management formation best practicesAs always, thanks much in advance to everyone for any light you can shed!

The initial goal is immediate cashflow that will quickly increase as we fix-up and/or lease up the properties.

There are times when you don't want to own the property yourself.

What are the property taxes like?

I lost +$35k on the sale (I did purchase it at the height of the housing bubble, i.e. 2007) and rents were stagnate for almost the entire time I owned the property (I was only able to raise the rent by $50 over 10 years ($550 in 2009 to $600 in 2019).  

I am happy to share that I recently came across a solution called Property Llama that is a huge step forward for folks like us..

Timing wise as well, though the good STR properties haven’t seen much if any decline in prices have seen a decrease in competition to buy.