Orlando has a very strong rental market right now.

Long term goal would be to develop a strong passive income allowing me financial freedom.

A lot of newbies pursue out of state investments, but I've been there, done that, and strongly advise against it ... that leaves you the first 2 options to consider.Good luck and feel free to reach out further if I can be of assistance (I'm not selling anything, just giving away advice for free).

. :)   I know the idea of decking over probably sounds like a hack and that it would look terrible, but I was inspired by the old craftsman style wooden front porches when I decided how to finish it out and used it as an opportunity to add a little personality to the front of the house. 

Also look for an area where the population growth is strong & growing, rental demand is high, job growth is strong and then look for a property. 

Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.Besides doing that on here make sure to get out to some of the many local investor events we have.  

However, when you read the other comments on here you should get a sense from a couple of people that this is a high-risk style of investment.  

If you're high volume, looking at a ton of properties every week, or not so strong on the title end you're probably best off using an auction service.If you're only doing a smaller volume and comfortable with title work you may be able to DIY.Most people down at the auction are using one of the services.

Deferring payments until the end would only be an option on strong deals, for most lenders.

I don't you would be gaining enough in equity to make it a smart investment, so you better be getting a good enough deal that you could turn around and sell it for a profit once you get the rents up or you better have a strong case for it appreciating.