Both Fort Lauderdale and Pompano have fairly relaxed STR rules and regulations. 

UNTIL YOU SELL THE PROPERTY... then the cap goes away and you are taxed on the fair market value of the house which is usually the new sales price less maybe 15%.  

I like this idea because it reduces the potential vacancy I could have by doing a short 3- to 4-month lease that ends in April or May, then starting over with a year lease.

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

I know this is above and beyond what most municipalities require, but being fair will make the whole process easier.Additionally, a new landlord can reduce the 60-90-day notice by offering more moving assistance (cash and/or labor) if they move sooner rather than later.

Its a fairly common strategy.

Be careful not to violate any Fair Housing laws during this process.

It earns a great rate of return compared to a bank account and is fairly liquid.

Hi @Akintunde AboabaIf you want to reduce your risk of difficult tenants, choose a province with fair landlord-tenant laws, like Alberta, and not BC.

With this, along with shifting the utilities to the tenants and reducing the management fee to generate an NOI of around $103k, I'd estimate the value around $1.8M to $2.0M