Asked by Kevin, Frisco, TX • Thu Feb 12, 2009
I live in Texas, but after seeing how low some of the prices are in the SW Florida area, I was toying with the idea of buying a 2-3 bedroom home or duplex in the Ft Myers area and using it as a rental. I would use a property management service since I live out of the area.
I have excellent credit, but only about $15-20K as a down payment, so I was primarily looking in the $70-$100K price range. Are landlords with properties in this range getting a positive cash flow?? Would you recommend a single-family home, duplex, or condo? I have no interest in buying anything that would need much work other than flooring, paint, and landscaping.
Does anyone recommend this, or is it a good way to lose a lot of money fast?
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