If often more that they are abandanoning the property to the government because there is some type of constraint, i.e. there is a street light oddly placed in the middle front part of the parcel, there is a creek or wash (which means environmental permits would be needed), there is lack of true legal access, zoning problems, etc. 

There are only certain zone codes where STRs are permitted as a non owner occupant.

If you are looking for a 8-bed facility, then you will need to get a permit for zoning as this would be considered a commercial property. 

Pull a building permit.

We looked for a house, str permited, no hoa or low hoa in Sarasota area since October- couldn’t really find anything decent.  

This section relates only to a fee, charge, or other sum of money required to be paid under the lease if rent is not paid and does not affect the landlord's right to terminate the lease or take other action permitted by the lease or other law.

@Jack Bailin: I will check the zoning for you but as long as 4 family is permitted in the zone, the use will be permitted without the necessity of a special permit or a variance.

Out our way our connection fees and building permits alone are 40 to 80k per lot.. thats one reason West coast is so high not to mention the lots sell for 150 to 250k each so your at 200 to 300k before you put a spade in the ground and turn dirt.. 

@Bryson Williams look up the rules for your state, in Virginia, if you own the property you can pull your own building permits and do your own work, this includes the mechanicals .

From there you can submit plans/permits, and from there you can begin your rehab.