Note that the diagram doesn't consider tax implications—that's another important factor you'll need to include in your decision.

I suppose they would be able to help me figure it out but I’m still trying to determine what is the best way to fund something like this and would it be better to sell off the entire purchase once split into separate parcels or is there a way to structure a deal as to where I could sell off some of the land to repay the loan/investors and also retain a portion of it to develop with my own short term rentals.

But we did not notice the sq ft was off by 300 as we didn't know the unfinished room is counting towards the finished basement.

Real turn-off.

The fact that you have a TAX-FREE income is crazy good.  

In your case, you are probably better off buying a break-even deal in Tampa then a deal with $200 cash flow OOS.

You need to have a solid goal (write it down) to buy a property of your own.

@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.

., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

Not sure if they called off the sign, or if they still have the listing up on their phone and find the number to call from there.