You didn't mention the higher Florida insurance costs. 

Hopefully your lawyer also mentioned insurance- title and hazard.A quitclaim deed transfer can hurt your title chain and title insurance. 

Proceeds to segregated account to be disbursed ONLY on rental property improvements and expenses to preserve the deductibility of interest on your Schedule E.

The Homeowners Insurance will include Builder's Risk. 

And you must use all of your net proceeds in the purchases.The opportunity for you is that you can allocate the cash from your sale anyway you want. 

By utilizing section 8 income we will turn it into a property that is insured beyond belief and make over $ 418,000 gross $320,268 net.

The cashflow should cove ALL of the expenses for the primary (mortgage, taxes, insurance, utilities, etc) AND put money in their pocket.

Ask your attorney before proceeding. 

(Insurance, Loans, Zoning, STR, ADU's, ??

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.