Looking for Input on STR in Florida for 1031 Exchange

[K F.]

Hello! We recently sold our duplex up here in Minneapolis and are going to try our first 1031 exchange (a little nervous!). My idea is to purchase a short term rental property in Florida. Originally I was thinking Fort Myers, Cape Coral, or Bonita Springs because I love those areas. Then after more research I was pointed more towards Kissimmee/Orlando area, then I started looking at cities in the panhandle...I'm all over the place! I can't decide where is best, it honestly seems like there really is no clear cut answer, and that any city that doesn't have STR restrictions could be profitable if you can manage the property yourself (which we plan on doing).

Would love to hear some input from all my fellow investors and Realtors on the Florida STR market post COVID and what areas you see continuing to be great places to invest. Thank you!

[K F.]

@John Thedford it’s under contract so we are still eligible