If MTR is a good strategy you will further increase your cashflow.

But ...The first thing I observed was the replacement cost portion of the quote, was, IMO, less than what it will actually cost to demolish the remains of the existing structure, pay for any hazardous waste removal following a catastrophic loss, and actually pay to replace the property in the event of a total loss, even though I used the quote feature to increase the replacement cost value by 20% (the maximum it would allow).

Once you increase your real estate portfolio using these tax free money, part of the cash flow they generate is offset by the non cash deduction (ie depreciation) so you get the equivalent to the depreciation amount but don't pay taxes on it.

It was a 50% of one months rent and a $100 increase in rent. 

Slightly increased the offer to quickly go under contract, but still had inspections and everything done before completing the deal.

Aside from the increased rental value, properties that are on water, or have a view of the water, are going to appreciate in value at a higher rate than the others.

There's only a handful of these in the Bonita market that meet the ideal criteria for your strategy, but they're much more prevalent in Fort Myers.

Depending on what policy you have going forward on this, you may choose to increase their deposit amount.

I am looking into my STR options but from what I have learned this is a overflowing market in the area and the vacancy's are increasing so I may look into mid term and long term only.

@Scott VaethIf you live in part of the home and rent out rooms, you might be able to keep the lower 4% owner-occupied rate.Instead of a long-term rental that barely covers half the mortgage, could you do a rent-by-the-room model or target traveling professionals to increase cash flow?