Hi Kelli,Pros:  Practically guaranteed income once your property manager finds an approved Section 8 tenantCons:  You must find a seasoned Section 8 property manager- no exceptionsHigher chance of legal issues with tenantsHomes in the area tend not to appreciate like homes in areas with little to no Section 8Rental homes must pass a Section 8 inspectionLots of legalities you must adhere to when accepting money from the stateRemember a couple years back when the state of FL suspended ALL section 8 payments? 

If they are willing to pass a ban like this, it shows they are serious about getting something done within the city limits.

If you are a little more specific I may be able to pass a name or two along.

If the government were to pass a law that said 3 muslims talking were a crime, that would be a violation of the freedom of association.FREEDOM OF INFORMATION: Government has closed once-public immigration hearings, has secretly detained hundreds of people without charges, and has encouraged bureaucrats to resist public records questions.Who have they secretly detained without charges?

Did I pass a good deal up?

Seattle, Washington last year became the first city to pass a law mandating a first-come first-served screening policy.

Would anyone have personal experience on whether short term vs. long term rental in the Pass-A-Grille/Saint Pete Beach/Tierra Verde area is better? 

Let a few days pass, as you process your pros and cons; because once this guy grabs 'the bag' and leave, this property will be your 'baby' - lemon or not.

@Omar Khan2) Overlay Top down Market data on top to figure out pricing/valuation (we follow major publications aka RCA Insights ) Whats on the chart:1) Cap rate for MF (Class A/B aka Lifestyle) is lowest ...indication of competition2) Pricing trend by year and then within major cities .. indication of possible downturn or isolation of submarket 3) (dont have it here) MF price index doubled in past 10 Yrs.... indication is that market pulled all operators including both good and bad @Ivan barrett Hypothesis:1) There will be opportunities within MF to get a higher cap rate where Operator will need to exit due to operational/Debt performance... most probable case to compete with other existing good operators /indicators 2) Properties that will pass a stress test valuation with scenario where a downturn will happen aka vacancy will do up  and rent growth isnt possible for a duration of 2-4 yrs.It takes a bit opposite position to Recent post from https://www.biggerpockets.com/forums/432/topics/687483-unprecedented-structural-shift-the-thriving-multifamily-marketAnd supports https://www.biggerpockets.com/forums/432/topics/683154-bullish-on-multifamily  

Many investors will move from SFH to Multi once they pass a certain number of doors.