Owning a home and using it for rental is NOT for the faint of heart..
1) The carrying cost of a home with 2nd mortgage is about $35,000 per year (just to keep it alive). Therefore, you need $3,000 per month to break even (assuming you're carrying a mortgage)
2) Costs for everything have skyrocketed (lawn, utilities, insurance, etc). A 2nd mortgage is well north of 6%
3) Rentals elsewhere in Florida are INSANE. Naples rates in "high season" are above $10,000 per month for a shoebox condo
4) Although the supply of houses in The Villages that have been bought exclusively for rentals (real estate is not a great investment tool), these rates on RFAV and VH4R are actually low, compared to Florida coastlines. It's a case of supply and demand and competition.
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