You might make it work if you can find a way to increase cash flow aside from the basic long term rental strategy. 

I think it is important to increase my ability to provide cash flow outside of real estate.

The previous landlord only collected half month rent as deposit, and I would like to increase the deposit to standard one-month.

.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

However, once converted to personal use, you can no longer claim depreciation, and the accumulated depreciation will reduce your adjusted basis, increasing your potential taxable gain upon sale.

We plan to keep them on a month to month lease but after a few months, have them sign a year lease and increase rent, however, we need help finding a GOOD app/website to get lease agreements/documents from or get a template so we can fill/add certain things we want.

In FL PS only provides about 37% of the leads/oppertunities going through the county records offices (I have  study I have done comparing the 2 to back this up if you want me to post it/send it) recorder offices Florida and Hilsborough are obviously competitive but if your getting information before everyone else and using it fast in the market where it matters its not so competititve.If your leads are for say absentee owner, tired  landlord then you want the owner to have had the property for longer to hopefully increase motivation.

I think the story across a lot of the upstate is similar, net exodus from 2000-2020, followed by a surprising increase in prices and population growth following the pandemic as people (and companies) searched for affordability. 

Note that RedFin shows Y/Y January 2025 price declines of 9.71% for all housing but increases of 2.8% in single-family homes.

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.