Repair costs are between $5k - $30K.I have $20K in cash and have $10K available in credit for the repairs.What cost should I expect to pay for HML in rate and points lately as I have seen the number jump around and change greatly from when I was in CA.Any advise would be greatly appreciated.

http://www.wcequitygroup.com/properties/4577620045Cost Analysis Performed as Rental PropertyIn:Rent - $11,100.00Out:(Annual) Estimated Taxes - $500.00(Annual) Estimated Insurance - $850.00(Annual) Property Management (Optional) - $888.00(Annual) Estimated Utilities/Lawn/Misc -$555.00Total Costs - $2,793.00Net:$8,307.00Earn:Total yearly net equates to -$8,307.00Total monthly gross equates to - $925.00

I love Florida and would like to hold more performing investments there.

Ie, most residences have a no-business clause in the lease, yet most people nowadays perform some degree of their work nevertheless in the comfort of their home.

Any advise would be greatly appreciated!

I can't talk to the loan part of your question, but I do have a client, friend, and trusted adviser that I could put you in touch with that could help you out in the mortgage arena.  

I think that having a partner you trust in a particular area can dramatically improve your performance, especially if you are not living there or don't even have the chance to see the area.I also think that it is very important before you find a partner to experience real estate on your own, so that you have a good knowledge of what investing means.

I'm a believer that real estate should be treated as any other asset class and decisions based on financial returns and performance rather than geographic proximity.

In addition there are two similar homes (same plan) that are valued btw 150 -160 on Zillow (ya, I know that's is not the ideal thing to go by:))I will be looking more at this to verify my rehab estimate as well.Looking to have full financing (100% from bank or current equity) and turn in 4 - 5 months max.Any advise or help would be greatly appreciated.thanks

Based on his advise, I then purchased my online License course this evening.