In short, this would be an entirely appreciation-based investment.Given the state of the economy today, with high interest rates and the seller-buyer lock out effect, I want to discuss the pros and cons of this investment at length, specifically in the context of all the other properties / neighborhoods that I have been evaluating. 

Short-term pains for long-term gains. 

I’m looking at a duplex and running half as STR and the other as mid-term for travel nurses.

i have a HELOC myself, but if i use it it's for something short term and then paid back quickly. 

I can either purchase the land for 150K+ rehab cost with hard money lender.Or pay what they owe (50K) and get a construction loan and pay them after I refinanced the ARV.

Congrats on your pre-approval and your plan to make Florida your primary residence while leveraging house hacking or short-term rentals (STRs).

Being able to purchase a property with only 5% down means you can leverage your money way more effectively.

Short-term stays tend to bring higher revenue, but long-term rentals can provide stability.If the area gets strong tourist traffic, STRs could be a great fit.

You still missed the run up.

., how will this impact housing demand in the long run?