There is 1 catch and 1 only that can lesson this requirement.

In CA, you are legally required to have a CA LLC if you are "conducting business in CA".

Banks and credit unions might have lower-cost options, but they'll likely require more equity.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Traditional bank loans can be slow and have strict requirements, while hard money and private lending seem to offer more flexibility.For those who’ve secured funding before, what’s been your experience?

The world of real estate has changed.The result of the lawsuits is that a REALTOR® is now required to have an exclusive buyer's agreement before stepping into/onto any property on a potential buyer's behalf.

Quote from @Tim Baldwin: @Nathan Gesner, that form should not be used, as it provides for 60 days notice to terminate a month-to-month tenancy, which FS 83.57 only requires 30 days.It was a ten-second search for an example.

If you eventually convert the property to your primary residence and later sell it, the taxes would be prorated based on the ratio of time the property was investment property.These items should be addressed and discussed with your tax and legal counsel to ensure that the exchange is the best course of action given the restrictions and requirements. 

Second- these developments where the same person develops, builds, and then requires you to use them for management- they always suck.

Since you're in Destin, you might want to check with local firms that have experience with STR-heavy communities, as they’ll be familiar with the risks and requirements.