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No. of Recommendations: 5
It appears this is purely an investment property for you. So do the numbers to understand what your cash flow will be (rent, vacancy, maintenance, management, etc.). If it's not positive with 20% down, prefereably less, walk away. If it is continue doing more due diligence.

Do not count on any short term appreciation and be aware of what you will do should prices decline significantly. Great appreciation for the last few years does not equal great appreciation for the next few. In January of 2000 Cisco shares were a "great investment" having doubled almost every year for the previous 5+ years, not so much from March of 2000 onwards. Yes, real estate can and has declined 30% in price over a couple year period. Wether it will go down or up in Tallahasse, I have no idea, but it doesn't sound like you do either.
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