It sounds like there is some scale in the deal for a fix and flip, but you would surely be way out ahead of your skis to do that based on what you said.

I'm based in Tampa, happy to connect with you. 

Your property might be a little hard for MTR based on that layout, but again the garage could be good for storage for home sellers who sold and don't know where to go as well.

Family services will inspect the home and limit occupancy based on the number of bedrooms.

Your first trip should be to the Planning Dept and ask if it's possible based on the zoning, and if they would view it favorably.

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

@Renay Reese For a civilian, open carrying looks very different to people based on their experience level with firearms.

@Aus Smith if there is base rent and then an extra fee the resident pays for a common utility, we count that as revenue towards a percentage-based management fee. 

I strongly recommend flexing into the MTR strategy, especially if you already have a furnished STR ready to go.  

Then all the number breakdowns were based on 10% down payment using 2nd home loans.