The demand for vacation rentals in places like Destin, 30A, and Panama City Beach remains strong.

Rentals have remained pretty hot outside of common slower times around holidays.

Your payment may remain about the same as the original deal!

I know you are dealing with a 3 month lease rather than a 12 month lease, but for example....Say I rent my home for $2,500 per month and have to lower my rate by $100 to find a quality tenant that is a loss of $1,200 over 12 months compared to a loss of $2,500 for each month it remains empty. 

If the original mortgage on your building remains in place and is not part of the exchange, you do not need to replace that specific debt.

If yu claim one it doesn't void the option to claim the other one.Provided you meet the IRS requirements for both, as a tax strategy, you could complete exclude a portion of capital gains under Section 121 and then defer the remaining capital gains under Section 1031 (@Dave Foster is a great resource for 1031 exchange). ..

In other words, STRs can remain and can be sold to other investors in the future3.

Early on, rents would remain market-aligned to ensure the portfolio generates the income needed to cover expenses, pay investors, and reinvest in expansion.

The remaining “residual” cost is then assigned to the building itself.

Inventory still remains perpetually low.