First time Home buyer Pembroke Pines, FL
Member since 2025 · 1 post · 1 vote
First time Home buyer Pembroke Pines, FL
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Gregory AcsPro Member
Lender · MD · Member since 2025 · 133 posts · 52 votesSince you're planning to turn it into a rental later, I'd look beyond whether it's a home you like today and ask whether it will still make sense as an investment in a few years. I'd pay close attention to the age of major systems like the roof, HVAC, and plumbing, understand what the HOA allows for rentals, and compare realistic rental income against your expected carrying costs. A home that's easy to live in now and still works financially as a future rental can give you a lot more flexibility down the road.
15 Replies
- 4wJacob CamhiBusiness MemberHinton, WV · Member since 2026 · 131 posts · 40 votes
the big difference between a good starter home and a good rental is often less about the house itself and more about the future rental numbers.
that 1990s roof isn't just an inspection item, it's a huge capital expense you'll likely face before or right after renting it out. budget for a full replacement in your purchase costs.
also, a $300 hoa eats into your future rental profit every single month, so make sure your projected rents can comfortably cover it plus mortgage, taxes, insurance, and future repairs.
before committing, pull up active long-term rentals on zillow or craigslist in that exact pembroke pines neighborhood. you need to know what a 2 bed 2 bath will actually rent for today.
have you already mapped out what your cash flow would really look like after all those monthly expenses and a roof replacement?
- 4wArman AhmedPro MemberReal Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 904 votes
Quote from @Eleanor Mercatoris:
My fiance and I are looking to buy a house in Pembroke Pines FL. We are planning on living in it for a few years and then renting it out. I was curious if anyone could offer any advice or recommendations on houses in Pembroke Pines. The houses we are looking at are in Pembroke Pines near the Pembroke lakes square. One of the houses has the original roof (1990s) while other roofs are more updated. Most are a 2 bed 2 bath around $420,000 and a little less than 1,600 sq feet. Little less than $300 HOA. What are some questions we should be asking when shopping around ?
I'd pay close attention to the roof and HOA before getting too attached to any house. A 1990s roof could turn into a major expense, and with a nearly $300 monthly HOA, you'll want to understand exactly what it covers, upcoming assessments, rental restrictions, reserves, and whether there are any limits on leasing. Since you plan to rent it later, I'd also run the numbers using today's realistic rent, taxes, insurance, HOA, vacancy, and maintenance instead of assuming appreciation will bail you out. If it works as a future rental on conservative numbers, that's a much better first buy.
- Real Estate Broker · Northeast PA · Member since 2017 · 2k+ posts · 2k+ votes4w
Taxes and insurance are tough enough--I'd look for a house OUTSIDE of an HOA. Those HOA expenses will just keep on increasing, so govern yourself accordingly.
You've already heard from others about the roofing issue, so negotiate hard on price to compensate for the inevitable roof replacement--all that cost will be on you.
Basically, shop harder, and don't be afraid to make an offer that suits YOUR ideas and budget. Most of the FL market is in--or starting--a downturn, so keep that in mind.
- 3wGregory AcsPro MemberLender · MD · Member since 2025 · 133 posts · 52 votes
Since you're planning to turn it into a rental later, I'd look beyond whether it's a home you like today and ask whether it will still make sense as an investment in a few years. I'd pay close attention to the age of major systems like the roof, HVAC, and plumbing, understand what the HOA allows for rentals, and compare realistic rental income against your expected carrying costs. A home that's easy to live in now and still works financially as a future rental can give you a lot more flexibility down the road.
- Investor · Pacific Northwest · Member since 2026 · 511 posts · 286 votes3w
Eleanor — I’d underwrite this as two different purchases happening at once.
First question:
Would we be happy buying this house if we never rented it?
Second question:
If we moved out tomorrow, would I deliberately buy this exact property as a rental at this price?
Those answers don’t have to be identical, but I’d want both of them to be reasonably good.
For the future-rental side, I’d dig into a few things beyond just projected rent:
Get the actual HOA documents, not just someone's summary of them. Look specifically for rental caps, minimum ownership periods before leasing, minimum lease terms, approval requirements, pet rules and any history of special assessments.
Get an insurance quote on the specific property before getting too far into the deal. I would especially do that on the house with the older roof.
Look at what 2/2 homes in that exact community actually leased for, not what landlords are currently asking.
Look at how many comparable rentals are sitting available and how long they stay vacant.
Find out what taxes, insurance and HOA would make the carrying cost look like after you move out.
Ask yourself who the future tenant is. A 2/2 at this price point may be perfectly rentable, but I’d want to understand the actual tenant pool rather than just assuming “South Florida rents well.”
Think about your future exit too. If you decide not to rent it, how easy is this particular house/community to sell?
On the roof, I wouldn’t automatically reject the older one.
I’d turn it into a number.
What does replacement realistically cost? What does the current condition do to insurability? How soon would you expect to replace it? Then either the purchase price compensates you for that liability or it doesn’t.
The larger point is that I wouldn’t try too hard to convince myself a primary residence is an investment just because I might rent it someday.
Buy a home you actually want to live in.
But if future rental flexibility matters to you, use that now as a filter between otherwise similar houses.
The best version of this purchase is a house you’re happy living in today that still gives you several good options when your life changes.
- Real Estate Agent · Miami, FL · Member since 2022 · 238 posts · 102 votes3w
Hey Eleanor, local agent/investor here. I'd look at school zones first of all. You want to chase block that are assigned to better rated schools. It is easier and faster to find good qualified tenants in those pockets. Also, rather go with 3 bed 2 bath if the budget allows. HOA also matters, make sure their policies are rental friendly. I'll shoot you a DM with best rated schools
- Member since 2026 · 16 posts · 8 votes3w
You're asking the right question, especially since you already know this isn't necessarily going to be your forever home.
I would evaluate every property twice: first as the home you want to live in, and second as the rental property you expect to own a few years from now.
Being here in South Florida, a few things would be high on my list.
First, that 1990s roof deserves serious attention. Don't just ask, "Does it leak?" Find out the actual age, condition, permits, remaining useful life and what replacing it would cost. More importantly, talk to an insurance agent before you buy the house and find out what that particular roof does to your ability to obtain coverage and the premium.
I'd actually get an insurance quote on each house you're seriously considering. Two $420K houses can have very different monthly costs once you add insurance.
Second, investigate the HOA before you buy. Since you already plan to rent the property eventually, ask specifically:
Are rentals permitted?
Is there a waiting period before you can rent?
Is there a cap on the percentage of homes that can be rented?
Are there minimum lease terms?
Is tenant approval required?
Are there pending or recent special assessments?
What do the HOA reserves look like?
What exactly does that roughly $300/month cover?
You don't want to buy the perfect future rental and discover three years from now that the HOA won't let you rent it.
Third, check the flood zone and insurance requirements for the specific address. Pembroke Pines' current FEMA maps became effective in 2024, and flood requirements can vary property by property.
I'd also pull the permit history. Pembroke Pines makes property permit records available, including older records, so verify that roof replacements, additions, windows, electrical work, etc. were properly permitted.
Then I'd run the future-rental numbers today, not three years from now.
What could it realistically rent for today? Subtract the mortgage payment, taxes, insurance, HOA, maintenance, vacancy and an allowance for major future repairs. Don't assume appreciation or higher rents will eventually make a questionable deal work.
There's also a financing question worth discussing before you start making offers. Since this will initially be your primary residence, you may have financing opportunities available to you today that would be very different if you were purchasing the exact same property strictly as an investment.
And one last thing I tell buyers all the time: don't shop based solely on purchase price or interest rate. Shop based on the complete monthly obligation and what you're getting for that money.
A $420K house with a newer roof, lower insurance, financially healthy HOA and good rental rules could ultimately be a much better deal than a $400K house carrying problems you'll inherit.
You're not just buying your next home. You're potentially buying your first rental property at the same time. Analyze it accordingly. If you want to discuss this in more depth, call me at 561-363-8174
- Banker · MA · Member since 2026 · 120 posts · 31 votes3w
The replies about the roof and rental math are solid, but there's one thing worth checking before any of that math matters: whether the HOA actually allows rentals, and if so, whether there's a rental cap. A lot of HOAs in South Florida limit the percentage of units that can be rented at any given time, and if that cap is already near its limit when you're ready to convert, you could be stuck holding a property you can't legally rent. Request the HOA's governing documents, specifically the CC&Rs and any rental restriction amendments, before you go under contract. While you're in there, check whether the association has any pending special assessments, because a community with a 1990s roof on shared structures could be looking at a big one. And one more thing worth knowing now: if you finance as a primary residence and later convert to a rental, your lender's terms were based on owner-occupancy, so converting too soon can create seasoning issues if you ever want to pull equity or refinance as an investment property down the road. Most lenders want to see 12 months of owner-occupancy before they'll treat it cleanly as a rental on future applications.
James Driscoll
- Lender · Tampa/Saint Petersburg, FL · Member since 2014 · 356 posts · 148 votes3w
Hi Eleanor, I started out house hacking (and still do!). I would recommend underwriting the deal to make sure the numbers work for when you move out of the property since that is your long term vision. Based on the age of capex (roof, electrical, hvac, plumbing), you can bake in more or less to your underwriting for those things. I would also recommend working with an agent that has actually DONE what you're looking to accomplish as they'll be able to guide you.
- Member since 2026 · 16 posts · 8 votes2w
Looking back at your post and my earlier response, the HOA is definitely a key part of this decision, but there is another piece I would think through before you buy, and that is how you structure the financing on this first property.
Since you already know your plan is probably to live in the home for a few years and then convert it to a rental, I wouldn't look at the financing simply as what gives you the lowest payment or requires the least amount of money down today.
You also want to be thinking about how the loan you choose today affects your ability to buy the next house.
For example, FHA may be a very good option for the first purchase, but FHA generally restricts you from having two FHA-financed primary residences at the same time. There are some exceptions, including situations where the family grows and the current home no longer meets their needs, but I wouldn't build your whole plan around qualifying for an exception later.
Conventional financing through Fannie Mae or Freddie Mac gives you more flexibility for what you're talking about doing. You can buy this house as your primary residence, live there for a few years, convert it to a rental and then buy another primary residence.
When you do that, though, the payment on this house still has to be dealt with when you qualify for the next one. Depending on the circumstances, some of the rental income can be used to offset the mortgage, taxes, insurance and HOA. So the rental numbers you're looking at today could actually have an impact on how easily you qualify for the next house a few years from now.
That's another reason I would be looking at what each house could realistically rent for before buying it.
If you're planning on moving up in three or four years, what will this house rent for at that point? What will your mortgage, taxes, insurance and HOA look like? Will the rent come close to covering everything?
There could also be a point down the road where refinancing the property into a DSCR or other investor loan makes sense, but I wouldn't automatically do that. If you have a good first mortgage on the property, you may be much better off keeping it.
The bigger point is that since you already know what you're trying to do, the financing on this first house should really be part of the longer-term plan.
You're not just trying to buy your first house. You're potentially trying to buy the first property in what eventually becomes a small real estate portfolio.
That being said, when you get closer to buying, feel free to reach out to me. I'd be happy to look at the different financing options with you and, more importantly, look at them in terms of where you're trying to be a few years down the road.
- Investor · Tampa · Member since 2026 · 7 posts · 2 votes1w
Eleanor, one thing nobody's mentioned, specific to your plan.
You'll likely file homestead once you move in, which caps your assessment increases at 3% a year. When you convert it to a rental, homestead comes off and under Florida law the assessed value resets to full just value the following January 1. You lose up to $50k of exemption at the same time, and you shift to the 10% non-homestead cap.
So the tax number you'd underwrite the rental against isn't the number you'll have been paying while you live there. And the longer you hold it as a homestead while values rise, the wider the gap between your capped assessment and just value — all of which snaps back in a single year when you convert. Worth running that math before you commit to a timeline.
Second: everyone's said budget for the 1990s roof, and they're right, but nobody's put a number on it. Clay's point about getting a quote per house is the one I'd act on — two $420k houses here can carry very differently once you add roof age, flood zone and insurance. If you pass along the two or three addresses you're deciding between, I'll pull the public records and give you a real capital-expense range for each. Happy to, I built a tool that does this, it's live but early, and I'm mostly trying to find out whether it's useful to buyers in your position.
- 1wAshish AcharyaBusiness MemberCPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
Eleanor, since you’re planning to live there first and possibly rent it out later, I’d look at the house through two lenses at the same time: does it work well for you now, and could it still work as a rental later?
I'm from Florida as well, so I'm well aware of the insurance, property tax, and real estate challenges investors here face. For Pembroke Pines, I'd pay very close attention to insurance history, roof age, plumbing, electrical panels, HVAC, flood exposure, HOA rules, and whether there are any pending assessments or rental restrictions.
Since one of the homes is partly updated and the other is more dated, I’d also compare the true cost of bringing each one up to the same standard. Sometimes the cheaper house is the better deal, but sometimes deferred maintenance wipes out the savings pretty quickly.
Because you may rent it later, I'd also check realistic long-term rent now and see how that compares with the future mortgage, taxes, insurance, HOA, repairs, vacancy, and management. That gives you a much better sense of whether the property can transition into a rental without becoming a burden.
From the tax side, if you later convert the home from your primary residence to a rental, depreciation begins once it’s placed in service. And depending on how long you live there before moving out, the Section 121 home-sale exclusion may still be relevant if you sell within the qualifying window, though depreciation taken during the rental period generally still matters at sale.
Feel free to DM me, I’d be happy to send over a few resources that might help you compare the two homes.
INVESTOR FRIENDLY CPA®5241 Reviews - Real Estate Agent · Miami, FL · Member since 2019 · 25 posts · 19 votes3d
First, with a 1990s roof in South Florida, the bigger concern may be insurance and financing. Depending on the roof style, it may not get a clean 4-point inspection at that age, so you’ll want to understand upfront whether the roof needs to be addressed before closing or shortly afterward.
Second, underwrite the property based on what it could realistically rent for later. In that Pembroke Pines area, if you're looking at something like a traditional 3/2, you may be around $3,500/month depending on the house. Compare that against your mortgage, taxes, insurance, HOA, and whatever you're putting down to see if the numbers work.
If there's an HOA, also make sure you understand the rental restrictions before buying. And remember, HOA fees can change!
And lastly, a simple gut check: if it's a house you like in an area with good schools and strong livability, there's a good chance future buyers and tenants will like it too. So I'd really focus on three things: insurance/roof (plus other big ticket items), realistic rent vs. fixed costs, and rental restrictions / HOA considerations. If you want to chat further, please DM me, I'm selling a home in Silver Lakes as we speak!
- 1dChristian TurnerPro MemberLender · Coral Gables, FL · Member since 2026 · 20 posts · 5 votes
Mortgage broker here in Coral Gables, so this is my backyard. A few financing-side questions to add to the good roof and cash-flow points above, because in South Florida the loan and the insurance are usually what decide whether a deal closes on time.
First, find out whether these are fee-simple townhomes or condos. A sub-$300 HOA on a 2/2 could be either, and it matters: a condo purchase in Florida now runs through the association questionnaire, reserve study and (for buildings 3+ stories and 30+ years) milestone inspection paperwork, and some associations are on the Fannie Mae ineligible list. That changes which loan programs you can use and can add weeks. A fee-simple townhome with a small HOA is much simpler.
Second, get an insurance quote on each specific house before you write the offer, not after. The 1990s roof is the one to worry about: most Florida carriers won't write a new policy on a shingle roof that old, and the ones that will charge for it. Ask the seller for the 4-point inspection and wind mitigation report up front. Your homeowners premium goes into your debt-to-income ratio, so a $5,000 policy versus a $2,500 policy changes how much house you qualify for.
Third, since you plan to live there first and rent later, buy it as a primary residence. As a first-time buyer you have 3% down conventional and 3.5% FHA available, plus Florida Hometown Heroes if either of you works in an eligible occupation, and the occupancy commitment is generally 12 months. After that, when you go buy the next house, a signed lease on this one can offset most of its payment for qualifying, which is how the second purchase becomes possible.
Last, get a real pre-approval with the actual HOA, taxes and insurance for these specific houses run through it, not a generic letter. Pembroke Pines property taxes reset to the purchase price at closing, so the seller's current tax bill is not what yours will be.
- 11hDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
Start with the end in mind!
If you plan to rent it eventually, buy it as a rental you can tolerate living in for now.
You'll also build more equity by buying a fixer-upper and doing that work while you live there.
Here's some other copy & paste advice
___________________________________________________________________
The Real Estate Crash of 2008-2010 caused real estate prices to crash across the country - but didn't affect rent amounts. This caused a historically unique opportunity for investors - they could buy Class A properties and immediately cashflow when renting them out.
This couldn't last forever, and it didn't, as excited new investors drove up prices.
Eventually, Class A property values increased to the point that even increasing rents didn't allow them to cashflow upon purchase.
So, the flood of new investors switched to buying Class B properties.
COVID created a chaotic spike in both the sale & rental markets, attracting even more new real estate investors. According to , in December of 2023, almost 30% of home sales were to investors!
Investment also spiked in Class A Short-Term Rentals (STR) and investors started paying higher and higher prices based upon anticipated STR rental rates, that exceeded sustainability based upon Long-Term Rental rates (LTR).
Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.
In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3. The #1 determinant is the Tenant Pool.
If you don't believe us, try putting several Class D tenants in Class A apartment buildings and watch what happens. Or try the reverse - rehab a property in a Class D area to Class A standards and try to get a Class A or B tenant to rent it.
Unfortunately, many newbie real estate investors are jumping into buying affordable Class C rentals - expecting Class A results.
In our opinion, Class C tenants have FICO scores from 560 to 620 - where their chance of default/nonpayment is 15-22%. See the chart from Fair Isaac Company (FICO) below:
FICO Score
Pct of Population
Default Probability
800 or more
13.00%
1.00%
750-799
27.00%
1.00%
700-749
18.00%
4.40%
650-699
15.00%
8.90%
600-649
12.00%
15.80%
550-599
8.00%
22.50%
500-549
5.00%
28.40%
Less than 499
2.00%
41.00%
According to this chart, investors should use corresponding vacancy + tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.
To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure. If only it was that easy. Yes, the government pays the Section 8 rent timely, but more and more tenants are having to pay a portion of their rent. Then there are the challenges with Section 8 tenants paying utilities and taking care of their rental property.
Investors should fully understand that Section 8 is not a cure-all for Class C & D tenant challenges, it's just trading one set of problems for another.
We see too many investors not doing enough research to fully understand all this and making naïve investing decisions.
Once you understand the above, you still need to find a property. You’ll have to do what investors did before the Great Real Estate Crash:
1) Evaluating 100 properties, to identify 10 to make offers on, in the hopes one seller accepts.
- Yes, this takes a lot of work!2) Network with wholesalers who can bring you “deals”
- Many wholesalers are also newbies who have no clue what a real deal is and are just time-wasters.
NOTE: We often see wholesalers re-marketing MLS properties at HIGHER amounts!3) Start using your own personal network to find motivated sellers.
- Start posting on your favorite social media site what you are looking for – not once or twice, but CONSISTENTLY for 6 months! Give updates on properties you’ve looked at or analyzed to keep your audience engaged, so when they stumble upon a potential situation, you are the first one they think of.Good luck!
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