In fact, I would advise trying to find a different solution (such as finding a nearby lot with similar prospects). 

Lots of restaurants / shops nearby. 

The agent told the septic system failed but I can tie in with nearby running town sewer lines.

Have a 1BR/1BA nearby coming vacant at the end of the month and have had over 100 inquiries for it. 

And they don't have to be nearby or even in your state.

Lake Mary, Maitland, and Orlando are really the three biggest white-collar employment zones with higher prices nearby, so communities within a 20-30min drive are always in demand. 

@Jonathan Greene  The price range that was initially mentioned, but not agreed to, I estimated to be around 65%-70% of the ARV based on nearby homes that have recently sold with similar metrics.

Right now, I do this:Pick a location.Pick a house for sale online.Check comps of nearby similar homes (amenities, rooms, etc.)Compare mortgage/expenses against average occupancy rate and ADR.Is this a good start? 

@Lisa Graesser Are the STR you manage in the Villagers or nearby?

Moving forward for the next few months I've gone from thinking I was going to continue to get crushed, to thinking we may get closer to break-even soon as we book some 30+ day stays from families looking to shelter in place outside the nearby cities.