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

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 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.

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

I'm currently lending out some 6% to strong investors that I have a history with, and lend in the 9 to 10% for short term rehabs and flips.

Feel free to reach out if you have any questions.The Short- Term Rental Loophole ExplainedThe Short- Term Rental Loophole Explained

Therefore, if you look at history, real estate has continuously performed in an upwards fashion while, like any other investment, has experienced short lived corrections from time to time.

Cincinnati, Indianapolis, and Lexington are all with in a fairly close distance which could help with scale.  

Masthope had been rumored to be limiting STR, but it seems they are keeping their eye on the fallout after the big court win in Lake Ariel - https://www.timoneyknox.com/reversed-short-term-rental-regul...

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.