I would have to respectfully disagree with that input Johnathan.NJ does have high taxes, but the rentals are phenomenal in terms of income.

I was hoping to learn from local, Florida based investors about what to look for in terms of common construction or building issues (electrical, plumbing, foundation, etc). 

Time management will definitely play a pivotal role in the beginning stages in terms of understanding the market now, where it's going, and how to market myself and the products.

The project is a much larger project than anything we have taken on before in terms of purchase price, renovation budget, home size, lot size.

. #3 compliments the trim slightly better in terms of color (none of them really do) but it is a hideous pattern.

These are not magically seperated for the accounting in terms of bottom line.

I think if it in terms of my own home and if I wanted to rent out a room, I could do so regardless of whether the city knows of it or not.

I have found local/community/regional to be highly variable in terms. 

The answer for me is that the return on my time is more valuable (financially and in terms of lifestyle) finding buy and holds, working my full-time job, and having time to relax and have fun.

Again, as mentioned, I would think it's important give a convinceable and logical argument as to why it's a good investment In terms of viewing the property, if you are JVing on that property, I do think it's important to check it out assuming it's not too far away from where you are (like if it's half way across the States, okay maybe that's a different story but like an hour or two, it might be worth checking out).