Fix and Flip in Fort Myers

Florida law caps the review clock at 30 business days for a typical single-family permit, but the observed local turnaround and fee schedule are not verifiable from a public source. Florida Statutes section 553.792 requires a local government to approve or deny a complete single-family permit application within 30 business days (60 for larger projects), and cuts the permit fee 10% for every business day the review runs late. We could not find a current published fee schedule or observed review-time data for Cape Coral or Lee County, so budget to the statutory maximum rather than another investor's anecdote, and confirm the live number with the building department before you set your rehab calendar. Our guide on estimating a rehab budget covers how we size the number.

Expect a total mill rate between roughly 10.9 and 16.5 depending on the city, plus non-ad valorem assessments the millage number alone doesn't show. Lee County's 2025 taxing district millage book puts the total 2025 rate at 15.3806 mills in Cape Coral, 16.5034 in the city of Fort Myers, which levies the highest city rate in the county, and 10.9125 in unincorporated Lehigh Acres. Investment property gets no homestead exemption, and the 10% non-homestead assessment cap that does apply resets on sale, so a purchase this year sets a fresh basis for the buyer rather than carrying over the seller's old bill. Lehigh Acres' low rate is partly an illusion: its fire district funds through a separate non-ad valorem assessment that the millage book excludes, and Cape Coral parcels can carry Utilities Extension Project water and sewer assessments on top of the tax bill as well. Check both sections of the TRIM notice, not just the millage line, and talk to your CPA about your specific carry.

Plan on roughly $3,576 a year for homeowners coverage including wind, before flood. Florida's insurance regulator put Lee County's average homeowners premium including wind at $3,576 as of March 2026, close to Hillsborough's $3,525 and well below Collier's $5,534 or Miami-Dade's $5,975. Strip out wind coverage and the Lee average drops to $2,119, so the wind portion alone runs about $1,457 a year on the average policy. Flood is a separate policy, required by most lenders on any Special Flood Hazard Area collateral, and we could not verify current flood premium levels from a primary source, so get an address-specific quote before you close. Statewide, average premiums including wind fell in 51 of 67 counties between FLOIR's January and July 2026 reports, so the trend is easing, not tightening.

Past 50% of the structure's market value, you elevate or rebuild to code rather than patch. Under the National Flood Insurance Program, once repair or improvement costs reach 50% of a structure's market value, the building has to be brought into current flood elevation compliance, in practice elevate or demolish. That threshold is tested against the structure's market value, not the tax-assessed figure, so a borrower working close to the line should budget for an independent appraisal rather than guess. Cape Coral removed the five-year cumulative lookback that used to count prior repairs toward the 50% threshold (Ordinance 96-22, adopted November 30, 2022), which helps a property with pre-Ian upgrades already on the books, but FEMA has actively audited Lee County's enforcement of the rule since 2024 with the county's flood-insurance discount at stake, so a clean permit file matters more here than in most metros. Pull the flood zone and elevation certificate before you go hard on any coastal or canal-front deal.

Cape Coral is one of the most cash-heavy flip markets in the country, so speed to close is what actually competes. ATTOM's Q1 2026 home flipping report put Cape Coral's cash-purchase share at 77.5%, the fifth highest of any market it tracked nationally and well above the 61.1% national average. A financed offer that closes as fast as a cash offer is competitive; one that drags is not. The exit side is correcting but tightening: mid-tier values were down 6.0% year over year and 18% off their August 2022 peak as of June 2026, while active listings fell 20.4% year over year to 9,834 in July 2026 and median days on market improved to 94. We can turn a term sheet the same day and typically fund within 48 hours of clear title, which puts most Fort Myers-area flips at 5 to 7 days from application to closing, subject to underwriting. Apply now before you're bidding against a cash buyer with a longer runway.

About $30,000 on that deal, plus closing costs. We fund up to 90% of the purchase price and up to 100% of the rehab budget, capped to ARV, on a 6-month interest-only term. On a $300,000 Fort Myers purchase that is up to $270,000 from us and $30,000 from you (300,000 x 90% = 270,000), with the rehab drawn against the schedule rather than paid up front. The Lee County tax bill and the insurance premium are carry costs on top of that, so budget them next to the down payment instead of after it. Subject to underwriting.

Sometimes not on the purchase alone. We fund from $100,000 to $5 million. A house at the bottom of the Fort Myers price band can land under that floor once your 10% comes out of the purchase, so run the number by us before you write the offer. The rehab budget counts toward the loan amount as well, so a low-priced purchase with a heavy scope often clears the floor when the purchase alone would not. Subject to underwriting.

Yes. First-time flippers are welcome here. This is an asset-based loan, so the deal carries the file: there is no minimum credit score, and no hard credit pull to start. We do run credit, but it counts for far less than it would at a bank, and weaker credit is usually met with lower leverage rather than a decline. Speed is what a first-timer actually needs in this metro, where 77.5% of Cape Coral flips were cash purchases in the first quarter of 2026: we turn a term sheet the same day and most Fort Myers-area flips close in 5 to 7 days. Subject to underwriting.