That said, it can be done and done successfully if you plan in advance, build your team (contractors, subs, back ups, lenders, credit with suppliers, escrow/title, real estate attorney, mentor, etc.) get educated on finding (marketing) for deals, rehab costs, locations, market data (like crime rates, school ratings, population growth, job growth, etc), specific market insights like what is most popular and sells for the most in your area, etc

I'm currently analyzing a potential rental property in Houston and trying to quickly estimate insurance costs.

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

It will just be important to identify the new property and make sure you stay compliant with 1031 exchange guidelines.If you have any questions on the tax piece or need any help analyzing the numbers, feel free to reach out.

Is there a rough percentage that you use when analyzing? 

@Grant NashI have no experience in flipping/rehabbing and will attempt to analyze strictly on numbers.  

@Osvaldo GuerraAustin, TX, is a popular destination for small multifamily properties due to its booming economy, strong rental markets, and family-friendly environments.

You are in a popular group that thinks you need to own 100%. 

I think the major branches of STR that owners need to know are -Financing, Market Research (you technically have it already in Cape Coral), Property Selection (what makes good STRs, regulations, analyzing, etc.), Designing and Furnishing (amenities, design, theme, linens, etc), and operating (Insurance, Property management or self-management, Tech & Tools, Cleaners & handy people, etc)All of these could be covered depending on who you work with that can cover each topic. 

However, if it's close or below, you may struggle with cash flow, especially when the interest-only period ends and payments increase.If you’re uncertain about rental income projections or want help analyzing the numbers further, I’d be happy to assist with more detailed calculations or financing advice.Best regards,Drago