I have bought in flipped 3 properties here in Florida. Back in 2008-2009, there were amazing deals to be had! I bought my first property a 3 bedroom, 2 bath, 2 car garage home( 1600sqft) with a 1/4 acre lot, built in 2006 for $45k. Two years later I sold it for 90k. My second flip, I purchased a 1bed, 1bath loft style condo (700sqft) for $25k. I Sold it for more than double the price, same as the third.
The real estate market in Florida is relatively cheap still and back on the rise since the 2008 housing collapse. However, for
200k here you can easily find a nice size pool home. It may need some work, but nice bang for your buck!