South St. Pete (deep pockets)

The lowest entry prices and highest paper yields in the city, in older southern pockets with scattered flipping activity.

Higher crime, deep deferred maintenance, and flood and insurance exposure; the headline yields rarely survive the real vacancy, repair, and insurance picture for a remote owner. Roughly 45% of St. Petersburg properties carry severe 30-year flood risk, and insurance is the top deterrent for out-of-state buyers - verify the FEMA zone, get an elevation certificate, and quote flood-plus-wind insurance before offering.

Investors who understand that the highest advertised yields often come with the highest execution risk.