I agree that the best way to make money is self manage your short term rental (not AirBNB, that is a platform).

Congrats on your pre-approval and your plan to make Florida your primary residence while leveraging house hacking or short-term rentals (STRs).

The property, though is not beach front, nor does it has ocean view, is just a short drive from some of the best beaches in the west, which are great for surfing, snorkeling, SCUBA diving.

A mix of short- and long-term strategies could hedge against market shifts.Borrowing allows you to scale faster, especially if you can secure favorable terms.

As a starting point: -If they work full time and make $700k a year -Don't want to or can't spend time self managing a short-term rental -Don't have a spouse who wants to take the lead on managing the rentals They are likely not going to directly reduce their taxable income with real estate year-to-year. 

The bummer is that my insurance premiums will go through the roof for a while -- If I can get a policy.

Quote from @Matthew Becker: It depends on how short you are. 

I've never heard of Kin, but I too am in the market for short term rental insurance.

You post makes me want to remind everyone that florida isn't an easy market to enter short term rentals.

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.