And we're still seeing deals here that are positive cash flowing with lots of potential for appreciation.

Is it overkill for a potential non-problem?

That neighborhood is buzzing with potential-young professionals, trendy developments, and a rental market that’s always in demand.

All that said, and to answer your question, I think a guaranteed check for 66% of the rent offers some peace of mind and limits potential loss. 

The DSCR loan is a great tool because it's looking at the income potential of the property, not just your personal finances.

Over 1 month with 124 Zillow potential tenant contacts, the property manager report showed no leads from Zillow and couldn't find tenants.

If its a log cabin it might have trouble qualifying for the refi - would be smart to get some opinions early if that is your gameplan - would likely be a bigger potential hurdle than the gift/original purchase process

Leveraging equity to purchase a short-term rental (STR) in Tampa Bay can diversify your portfolio and potentially generate strong cash flow, but it also increases your financial risk.

I’m stuck when I try to run numbers on a potential deal, how do you generally estimate rehab costs?

Since you’re looking for landlord-friendly states, consider areas in the Southeast or Midwest, where affordability and cash flow potential are often stronger.I agree.