It was a relatively new, basic, builder grade 3/2 home with 2100 sq.

Relatively new, basic, builder grade 3/2 home with 2100 sq.

Which might be OK, if you make great cash flow on it and have paid down your debt principle significantly before selling (not to mention the initial equity that you created through the initial rehab).

So as a buyer I am not put off by a granite counter as I can do basic math.

With some very basic due diligence it's not very risky nor does it even take a lot of skill to invest out of state.

Go 10 miles east (where the house prices are basically the same) and that drops to $0.75/sq. ft (difference in rent of $400/mo for a 1000 sq. ft. house).

There are some basic decisions anyone investing in real estate (and I’m talking about INVESTING, not flipping or wholesaling or brokering) needs to decide.  

Basically has a decently high tenant turnover.  

Basically they are just telling you "what you see, is what you get" and after you close they don't want to have anything to do with it.Clean title is not a concern with an REO (if it is one - the listing will state REO/foreclosure on MLS).

I started looking for properties in Coral Springs, Lighthouse, Boca, basically looking for B neighborhoods not to far from work, using FHA.