You would do fine if you purchase a foreclosure for example. My wife Karen does property management and has been very successful filing up her listings.You would need a deal to have a positive cash flow, something which I have been able to find but which needs work and luck. I would keep away from condos at this point because of the fees unless you get a supper deal with low fees. I would recommend a single home or a duplex. I am not crazy about duplexes because they are tougher to sale when the times comes but if the location is decent its ok. Yes you can get apositive cash flow, but lets be real here, the price range you are suggesting will not offer you a large cash flow.Due to the enormous amount of foreclosures and short sales you will get a terrific deal but on the other side you will not get lots of $ for rent. Its all about home work and its an exciting time to purchasein SW FL Ft myers.
It will be a case per case situation and I can figure out then what you will be your net with 15K-$20K.
and happy hunting!
LLoyd Nichols Right Choice Realty LLC
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I use to live about 30 minutes away at Burnt Store Marina and CC. Ft. Myers was the closest small city that you could go to for something to do. Cape Coral is right across the river and if you go down a little farther you find Sanibel and then Naples. So these are nice areas.
I would say your best bet is to go ahead and find a buyers agent there in Ft. Myers. I can put you in touch with one of our top agents in the area if you like. Feel free to contact me through my profile here on Trulia.
Hope this helps,