I am interested in Southern Florida and a planning a scouting trip for a week in January. I was quite active in Southern California between 2009 and 2012, but the pickings here are getting too slim. I have been heavily researching cities on the loop from Orlando to over to the east cost, down to Ft Lauderdale and Miami, west to Cape Coral, to Port Charlotte and up to Clearwater. I know this is kind of like saying I am researching properties somewhere between San Diego and San Francisco, but other than researching demographics, recent listings and sales, current rents and crunching some seemingly favorable numbers (compared to Southern California these days) , I am not very intimately familiar with this area. I am very interested in the thoughts of those who know these various areas.

My general criteria that has served me well in the past is:

1. Buy and hold SFR or condo with 7.5% to 8% minimum NET return after all costs, reserve and property management fees (not interested in vacation rentals)

2. Growing area with comparatively low vacancy rates and potential appreciation

3. Within 8 to 10 miles from the beach

4. Class B or C working class neighborhood, with plenty of kids, but close to areas with educated upper middle class and higher end jobs.

5. Unemployment rate equal or less than the national average (tends to keep people out of mischief and able to pay rent).

6. Buying for cash, less than $150k

My numbers and demographic research tell me one thing, but without boots on the ground and a sense of the neighborhood vibes it is difficult to know where to concentrate my scouting trip. Any suggestions from Florida Vets?

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