How bad is the Florida economy right now?
Florida is one of the worst States in terms of foreclosure (in some counties). We spent last winter there, as we normally do, and no-one knows when the bottom will be reached. Please note that property insurance is vast (hurricanes and tornado being so prevalent) if you can get it!, particularly near the beach areas, and property taxes are very high in comparion to other States. Think in terms of $5k to $10k for annual payments covering external insurance only, property taxes and home owners association fees for a modest 2 or 3 bedroom property. You need to make a lot of rental just to cover these costs after you have paid 15-20% rental agency fees.
