I'm also in FL and am a RE investor (STR/MTR/LTR), developer, and just love RE and the freedom it brings.

Hopefully it'll be lower, but that where's my urban developers in a few other markets are seeing their numbers come in.

I personally recommend checking Columbus OH - lots of job growth, population growth, and major companies moving and developing here.

Building a single small unit is the most expensive residential development..Here is a list of why adding a single ADU in dingle family zoned areas in my CA market is typically a poor RE investment:1) The value added by the ADU addition is often significantly less than the cost of adding the ADU.

Getting Fair deals on labor and repairs comes from developing win/win relationships with contractors.

Where I differ with most of the posters on this thread is that I feel solutions can be developed to address the problems and something similar to what the OP suggests would be viable. 

It explains the team that you should develop to have a strong foundation under you while investing remotely.https://www.biggerpockets.com/blog/core-four-real-estate-team

Instead of buying at today’s inflated prices, I develop from the ground up, creating built-in equity and higher cash flow from Day 1.If you’re open to new construction, Columbus has great zoning options and strong rental demand.

They are developing along the river so a lot of upside here (look up hazelwood green).

After analyzing hundreds or even thousands of deals, you develop an intuitive understanding of not just the numbers but their sensitivity.