Something to keep in mind is, will you qualify for traditional commercial financing?

Lenders will use market rents to qualify.

I assume you haven't occupied the unit in the past 5 years and don't qualify for any of the tax exclusion? 

I daresay that, for conforming loan, credit is pretty much pass-fail and not hard to get where it needs to be in most cases (my doing what I mention above)... but income is what really matters, once credit is "pass" how much will your income allow you to qualify for?

In the United States in 2024, mortgage rates are generally tied to the overall bond market, as most residential mortgages, including conventional qualifying mortgages for owner-occupants, residential investment mortgages (DSCR loans), and even other alternative residential mortgages (non-QM), are securitized.

More about this in IRS 523Even if you qualify to exclude part of the cap gain under Sec 121 you are still required to pay Depreciation Recapture on sale (not the case with 1031 Exchange)1031 ExchangeOnly rentals are eligible for a 1031 Exchange - this is good news for you.

I recall in 2009 Miami condo market had a 11 YEAR supply :)   I think that qualifies as a strong buyer's market then, lol. 

Just typing that makes me amazed I turned out as well as I have), I believe I am qualified to speak on the matter.

BUYER REPRESENTATIONS click "DOES have to sell or lease other real property in order to qualify for a new loan."

Then rent it to a qualified applicant willing to pay market rates.