If you have liquid reserves - say $10k +, and IF the property is in good, not average, not fair, but GOOD condition, and the property is not in a “war zone” and not in a declining area, and the property is not in a city where it is or can be subject to rent control, then you might have negotiated the deal most investors strive for but seldom achieve. 

@Michael Plaks has a great post on this topic.2 - Assess the value of those tax deductions to you: The value of a deduction depends on (a) whether you're actually able to use it to reduce taxable income and (b) your marginal tax rate.As an STR, assuming the average rental period is 7 days or less, key items to consider are: (a) material participation and (b) avoidance of "excessive" personal use.

I used the average appreciation recognizing the average will have some above and below the average.  

Real estate investing is a forgiving world; the average person can still make money even with some big mistakes.

What is the average spread (difference between what you are charging your guests and paying your cleaner) for your turns?

ROI last year was nearly zero and its maybe averaged 3% over the last few years.

The days of double digit year on year appreciation seem to be behind us, but 5-8% each year is still above the national average.

It is right in the spot to access 2 beaches according to other listings on VRBO.I will say that most of the homes in that area are going for pretty high nightly rates, but they are also much larger. 10 bedrooms in one case. 5-6 on average. 2x the size with a average nightly rate of around $550 a night.Also, their calendars are amazingly full.

We had 85%+ occupancy and higher than average nightly rates, and our financials supported our sale price of $417,000 in October of 2023- the highest selling condo in the entire complex.

@Chris Marette, take this with a grain of salt, because the only times I appealed appraisals were before COVID.In my experience, if you stay with the same lender and you get a second appraisal, the best I got was an average of the two appraisals.