Hi – I'm looking for some advice from those more experienced than me. If you were looking for a balance between cash flow and capital growth with approx 120 – 140K to invest would you buy:

One condo
Two Condos
One house or
One of each
And where would you target. I have looked at Fort Myers, Tampa and Orlando in Florida and could probably swing any of the above deal options. I was wondering what the opinion of the forum is on Florida as an investment centre and the type of property mix which would yield a good blend of returns. I envisage a 5-10 year timeframe.

Also what potential pitfalls are there for Australians investing in the US. I intend to travel there and have a look before agreeing to buy.

There are so many options is hard to know where to start. I thought it would be useful to seek out my own independent Lawyer in the US when I'm there. Has anyone else done this?

Thoughts?