We have a potential buyer of a lot in St Augustine, FL who would like to build a new single family short term rental.

Like @Patricia Andriolo-Bull, I hate the do you know who I am.

I do understand that the answer likely varies depending on location - this is in a very nice suburb of Philadelphia. 

If you don’t like it, you can always pivot and sell, convert to a long-term rental, or move into another investment strategy with the equity and knowledge you’ve built.Starting this way means you’ll go through every key step: finding a deal, securing financing, managing tenants, and understanding property operations, but in the lowest-risk way possible.

Then talk to a qualified, professional QI like @Dave Foster.

We ran numbers across several probabilities and it seemed like a safer bet when we purchased. 

I feel like i made a huge mistake.

Feel free to PM me if you'd like. 

Sounds like you're already moving in all the right directions. 

Like elderly care homes?