Would it be better to empty out the 2 bedroom and get it rehabbed asap, or collect some rent first as a buffer and give it a little bit of time?

This can provide a buffer against potential declines in property values.

Tampa Bay is surrounded by barrier islands and peninsulas that act as natural buffers against storm surge.

It's crucial to have a buffer in your budget for unexpected expenses that often arise in flipping projects.Risk Assessment examples: the flip doesn’t sell for as much as anticipated or takes longer to sell.

If you aim for maximum risk, you need to aim for pretty heavy cash reserves/access to cash as a buffer against risk. 

you need to make money when you buy.so all good on apts but no need to rush unless you get a value add opportunity .also make sure you have a buffer of 50 to 100k to deal with the surprises.

There are so many assumptions built into their models around rent increases, minimal opex increases, and further compressed cap rates 5 years out, that there is little to no buffer in case anything goes wrong.If you are looking to invest in a syndication, look closely at these assumptions and compare them to the local market's demographics (population trends and job growth). 

This includes STR activity, and sometimes limits of tenancy to a certain percentage of all occupants. you might consider owner occupying a small multi family and then renting out other spaces. until you have more doors and more cash flow, perhaps choose a roommate to help you save up your half of the monthly payments for a buffer of cash, for when things go wrong with plumbing, a fence or whatever. 

Which is why I am building buffer in each of the properties for the repairs and capex.

@Grayson SpittelGreat job on that buffer.