On one of our flips, demo revealed that several basement support posts had been shimmed with scraps of wood instead of set on proper footings.

That raises the cost to build and operate housing, which sometimes supports rents even while deal activity slows. 4.

At that price point most buyers end up looking at conventional multifamily financing (Fannie/Freddie), portfolio bank loans, or sometimes DSCR-style investor loans depending on whether the property will be owner-occupied and how the income supports the debt.With $500k down on a $1.6M purchase you’re already around a 30% down payment, which is generally within the range lenders like to see on small multifamily properties.

Review the comprehensive plan, current zoning, future land use designation, and concurrency rules (Florida requires infrastructure capacity for roads, water, schools, etc.).  

I’d be glad to talk if you’re interested and explore how we can support each other.

I always lock in the exit plan before making an offer, but my first step is making sure the property data actually supports that plan.

Hi BiggerPockets community My name is Jay Toluganti, and I’m a real estate investor and operator based in Florida, actively investing both locally and in a few Midwest and Northeast markets.I started my real estate journey a few years ago and have since built an operator-focused business across multiple strategies, including:📍 Vacant land acquisitions, primarily sourcing infill lots for home builders🏗️ Supporting builders with 185+ lot acquisitions, contributing to 1M+ sq ft of residential development🏠 Single-family rehabs & cosmetic flips💰 Working with private and self-directed IRA lenders on structured, asset-backed dealsMy background is in engineering and management (corporate roles in India and the U.S.), so I’m underwriting-driven and very systems-oriented.

Regulations matter as much as the numbers.Before choosing a market, it’s important to understand the local STR rules, licensing requirements, and zoning restrictions.

Keep separate records for the STR space, track your time managing it, and document the average stay length so you can support material participation if it qualifies.

QuickBooks seems to already be the main recommendation, but I wouldn't rule out Xero as a platform worth considering.