@Ben Cochran I hope you have factored STR tax savings into your cashflow and ROI as it can be significant.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.While your properties hold significant equity, adding debt from HELOCs or a DSCR loan could strain your finances if STR performance fluctuates or costs rise.

I would also get a 1099G for whatever grant was received so not exactly "free" but could be offset other ways potentially. 

To me it wouldn’t be worth the trouble to go after the other person or worth the potential liability of it happening again and possibly hurting someone.

There is no shame in taking some time to hunker down and reassess everything, and potentially sell. 

I would also be curious to see what the market rents in the area are to see what the potential upside is. 

Concerns: Although the cashflow is good, we weren't sure it's valuation and potential for appreciation since there is no good comp like this property in the area.

What I hear from a lot of potential investors is that I just want a property that hits all the numbers I've read about in a book or heard about in a seminar.

Eventually, I would like to open my potential beyond state lines.

Mike, My recommendation would be during due diligence for a potential purchase, ask for past 12 months of all utility bills, property taxes, and any other municipal requirements like rental permits, occupancy inspections etc. 

@Anton TikhomirovPrices and potential (cash flow) returns can be slightly misleading if the investor only looks at these.