There are tons of real estate foreclosures in florida. You can walk down any block and buy a preforeclosure short sale. The problem is the florida FHA 203k can not be used without sufficient debt to income ration guidelines. Most lenders do not know how to calculate debt to income ratios.
When the fha loan is defaulted, you will not want to be there for the eviction and sherriffs sale. You may decide that the foreclosure and eviction are not friendly if the sheriff brings a convict to evict the tenant. This is 30 to 45 days after summary judgment of foreclosure.
Foreclosure in Floirda and preforeclosures for sale in Florida.
FHA lenders in Florida.