If it concerns you that much, adjust the purchase price to take into account this added risk. 

Quote from @Joy Daniels: I manage short-term rentals in the Sarasota area, and I'm always looking for innovative ways to boost occupancy rates year-round.From your experience, what marketing strategies have had the biggest impact on keeping your properties booked?

My suggestion is to find some real estate industry surveys (via CBRE or others) and look for the MF cap rates in various cities/states/regions.

The "variables" you speak to could mean this is worth every cent of a 5.4% cap rate to "I wouldn't touch this for a 12 cap".  

I’m having trouble determining the correct monthly rental rate for my property.

There’s almost always a rate at which it just doesn’t make sense.

Or, have they adjusted their project to accommodate a higher interest rate environment? 

In many markets section 8 is higher than market rate. and investors need that extra return to mitigate the risk of sec 8 tenants generally speaking.

With a low 4.75% rate but minimal cash flow ($50–$125/month), your equity could likely work harder elsewhere.

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.