Pensacola, FL Rental Market

[Tyler Work]

Hello BP Community!  

I am considering buying a half duplex in Pensacola, FL where my uncle owns the other half.  The eventual plan is to buy the other half in a few years when I have the capital or scrape and develop on the lot.  

Property Details:

East Hill Neighborhood - Pensacola, FL

Whole duplex appraised at $194,000 

Whole duplex taxes = $2250

Half duplex purchase price = $90,000

Currently rented long term for $800/mo per side

Could use some work but might not be worth it based on rent market. 

Plan - buy & hold either long term or rent on Airbnb 

My question is for investors who have experience in the Pensacola area. I know the city is going through a "renaissance" with some development, baseball stadium, etc but what is the overall outlook on long term investment in the area? What is general thoughts on long term appreciation and are rents rising? I currently live in Denver and have very little experience with FL markets. Really any thoughts or comments on the market in general would be greatly appreciated. I manage several Airbnb properties in Denver so I am familiar with costs and what it takes to manage a STR property. Thanks!