Strategy for STR investment

[John M.]

So I turned my residence into a rental about 20 yrs. Ago.  Did a 1031 exchange into a multi-family 6 yrs. Ago.  Current value is approximately 300k.(actually I have no idea what this market could bring) I like the fact that STRs produce more cash flow than a monthly rental. Loan debt is 74k.

I'm looking for some advice on strategy. I was thinking of south west Florida locations. Would you buy one property? Multiple properties? Maybe storage units? DST? With how fast real estate is moving is it even wise to try and identify 3 properties to satisfy 1031 requirements? Maybe sell…pay cap gains tax and get my wife the beach condo she would like? I value the opinions here on BP. Looked like a good place to start. Thank for reading.