Tampa has a lot of draws, to name a few is Beach, Boating, Golf, Casino, Intl Airport/Biz Travel, Busch Gardens, NFL/NHL/MLB, Concerts/Festivals, and more.I would say Sarasota is a submarket of Tampa but has its own attributes as well. 

FL, king of the swing, you go buddy but not my jam.

In Pinehurst NC, known for golf and the US Open, we do have some STR that are often medium term...during the winter months when golf is not as enjoyable, we get medium term renters. 

(BTW, that agreed on price should be the main data point in value).Even in a commercial appraisal, applying a cap rate to determine value, +- a quarter percent, which is a perfectly reasonable delta amount, will swing those values dramatically.Like BPOs, appraisals also use terrible comps many times, especially when they are doing so blind with no set sales price set to achieve.

.- you can't swing by to really understand what's going on. - this leads to management inefficiencies and waste- you have to rely on other people's judgment- you have an overhead cost burden for doing things remoteIt is tough enough to organize a carpet & paint rehab remote (ask anyone who did it the first time), let alone a full-scale BRRRRR.

It also takes some risk into account because it predicts you make more on the higher-value properties, where price swings and rehab budgets can be greater.We also use the rule-of-thumb formula above, for our evaluations, and it works.

Trust is huge in this industry and it swings both ways.

That's not worth 4 months of rehab, hiring contractors, and swing hammers. 

Pickleball courts ;) Game rooms, spas, saunas, mini golf, dancing poles and karaoke, you name it and we have done it...

Bartending is the only place where I can make $30-50 an hour at the moment.Luckily I do share this house with my sisters and their husbands, so if an FHA purchase and living in a house for a couple years is the only way, I may be able to swing that.I'm fairly handy and have done many of my own repairs to this house over the years, so I'm fairly confident in my ability to be able to handle a slight fixer upper.