Adding and making better could sell or rent faster, but it won't get you more than what the market ARV and rent is set at from other similar comps in the area....and your Interior Design background will help, if you you it mostly as an understanding of cost. 

2) Please define "above market upside in year two and beyond" as not understanding... 

3️⃣ Local Regulations: Before you invest in a short-term rental, it's essential to understand the local rules and licensing requirements.

I'd be happy to provide some recommendations and suggestions for your situation as a foreign citizen living in Miami.First, it's important to have a good understanding of the local real estate market, including pricing trends and neighborhood dynamics.

I need to work on my introduction just to produce a back story to help others understand where I am. 

- You or the PMC can get 3 bids, but who is going to know how to accurately compare them and understand if something is missing - that will require more work+charges once the project has started (a standard tactic by many contractors!)?

At best, you will add another income stream to your portfolio.Thank you so much for your feedback and understanding. 

It could provide more cash flow but your leverage would still be less due to the total value of that property compared to the 4plex3) Is there an easy way to understand what price range I should stick to in my area, and should I focus on the best market or focus on the best price for properties? 

I understand that with traditional mortgages, it is unlikely to receive lending that incorporates speculative renovation costs.

I like umbrella because there is no worry of being pierced for inadequate separation of finances, if sued you have a heavy weight in your corner who has all the consequences of a defeat, and because usually it is reasonably priced (mine today is not so reasonably priced but I believe it is mostly related to the risks of CA).I do understand that the probability of needing the umbrella policy is low.