This is a good buy.

If you want buying for cashflow, don't buy them, they flows , but not much.

if you can hold for long time , buy them. Here is why.

1. Population increased 60% in 12 years.
2. Those increasing population is at entry level house.
3. Those houses were at $250k level, enough room for appraiciation.
4. FL house recover just starts.
5. The replacement cost is much higher. 

if those houses appraiciate 50% , it reaches the replace cost level, and it is very possible to get there.  You has a good return. 

If bank would give 10% discount, you would have about $720 more per month, is it big enough to impact your decision on those $1.9m investment? The most people is more comfotable to buy cashflow house, it has less risk.  I buy appraiciation houses.  I view this deal a good opportunity.