I think that is a great goal there were a couple 4-plexes in Redmond I thought were great deals I believe they have both gone pending but there is some good stuff out there.

Anybody who says this is a good or bad idea without any more information isn't doing you any good.

Is there debt on the property or are you doing all cash?

It's in there best interest to do so. 

So there are deals out there if you know where to look and are open to other markets.

Clearwater STRs are very restricted. 

REPS = Your rentals are non-passive if you materially participate in them.

@Maurice Smith 2nd vote for RL Management.Regarding owner payout timing, it's easier to pay sooner for Class A rentals, because the tenant payments are more consistent.As you go from A to B, to C, etc., tenant payments are LESS consistent, so many PMCs opt to pay owners later.

If you're using Zillow or the tax district or almost any public facing website, I always question how good the comps are.   

There are other options, the $60,350 mortgage does exist, but you didn't say what the value of the property is, but the variable rate mortgage of 8.75% to 11.75% indicates several thing.