I don't care about market analysis.. that is irrelevant.You simply need to dissect it and bereak it down to the most simplest of its components.

Conversely they have a higher end heat pump that uses components purchased from Mitsubishi.

The age of the home is not as important as the age of the major components of the home, the roof, plumbing system, electrical system, age of paint and other building materials that may have lead or asbestos, variable expenses can creep up and kill an investment. 

Once you enclose the space and make it habitable you need to add mechanical and electrical components to the space.

Serious foundation issues; terrible neighborhoods without realistic prospects of improvement; detrimental nearby property uses that cannot be rectified (landfill, sewer plant, prison, etc).

Then with some friends I started our own monthly meeting group, which involved a dinner component (maybe it was all in our heads but something about breaking bread forges more of a bond between people).

I was watching a Meet Kevin video (here is the link) and he talks about the detriment of ordinary savings.

Self managing rental property, especially STR adds a BUSINESS component to your investment.  

As others have mentioned, having a skilled and trusted team in place is critical in making this work, and I would be happy to provide recommendations for each operating component for the Fort Myers area.

Your vacancy and management expenses- which are two significant components of the 50% rule- can be a lot lower in Provo than many other markets in the country which is a prime example of why the 50% rule cannot be extrapolated the same to all markets.2) Minor tech boom.