Austin and it’s surrounding is on the top three list for highest decline and short term rental revenue.

I'm interested in trying the short-term rental market with a couple waterfront properties. 

I know the deferment period for capital gains is almost up, but what are the pros and Cons of an OZF vs a traditional 1031?

Purchase price: $118,000 Cash invested: $118,000 Tried to buy a place during the pandemic in NY but was getting outbid like crazy over 100k, so I was lucky enough to buy a condo in tulum mexico and do a short term rental. 1 bed, 1 bath, with community pol, 15 minutes away from the beach and 15 minutes away from the city.

If in the rare chance they do allow short term rentals in the HOA rules/regulations and association documents, don't be surprised if they change that ruling after you buy. 

Further, I’ve had rental property since 2010 and a short term rental since 2016 - not sure where you get your stats from.

Some investors buy land in cash or with short-term financing, then refinance it later when they’re ready to build.Lastly, don’t underestimate the power of networking.

I recommend putting in your description there that your high-season months are for short term rentals and book at much higher prices per night. 

Moving the house only a short distance on the same lot should be MUCH cheaper than moving it somewhere more distant. 

In short, you need to stay there a year as an owner-occupant and then you refinance into a conventional, rent both units and then you can use the FHA to do it again on a new one.