Factors to consider include proximity to campus, tenant turnover, seasonality, property management, and financing options.

You have an 8% vacancy factor, but does that include bad debt? 

So I just saw this post about Section 8 HUD tenants, and this post stated something along the lines of section 8 tenants being more likely to damage properties because they're section 8 low income tenants, and also something about investors not wanting to put money needed into Section 8 properties because they think they're just going to be ruined by these Section 8 tenants, and as someone who knows the entire process with investors, owners, contractors, tenants, and prospective tenants, this is what I have to say about it:In my experience, Section 8 HUD tenants are actually better custodians of the property because of many factors, but 3 of the main reasons being, there is an annual HUD inspection that is performed on each property, so this gives the owner an extra 'protection vector' against damages, also, the initial placement of a Section 8 HUD tenant requires a passing HUD inspection, therefore there's a record of the property's initial state prior to move in, and additionally, they want to have an easy renewal voucher process annually, and their unit remaining in good condition is an incentive for those reasons, therefore they are LESS likely to damage a property - their future depends on it!

There are many factors to consider, I drop some here: 1) being new, need to build your reputation and have no repeating customers2) Miami has had an overflow of STRs buildings and "illegal" inventory: investors who bought new condos allowing STR with loans to pay, tend to lower the price to get bookings.

However depending on variable factors as DSCR ratio, LTV, FICO, loan amount, Prepayment penalty or not it can range from 6's to high 8's. 

You’ll definitely want to dig into the zoning and permit requirements for your area to get a clear picture of what's allowed and what the associated costs might be.Also, don’t forget to factor in things like parking and whether you’d need to add a kitchenette to make it a viable short-term rental (STR).

Are there factors that am missing to consider if this conversation would really add equity to the house?

I just signed a subscription for a new property in March without incident. re: rate consistency in section 6.1 “The quality of the experience is based on a variety of factors such as calendar accuracy, Host response times and booking acceptance, rate consistency,”

Typical cosmetic (lifestyle) upgrades we do are better/more LED lighting, dimmers, flooring, paint, trim, solid wood door slabs in place of the hollow core etc.

Thanks @Kevin Sobilo, I hadn't thought about the inflation factor-which is impactful.