There are a lot of different things to consider here.

They all seem to have the same view which differs from mine.

We do a different version of BRRR it's Build - Rent - Refinance - Repeat.

You should reach out to @Melissa Haworth she can get the actual numbers/rents on STRs in the area to help run your comps.Each building is different, each area is different, it is important to find accurate data to make good decisions.

Since you're looking to expand into Florida and other states, I'd recommend starting by narrowing down your focus:Market Research – Florida has great opportunities, but each state and city has different laws, taxes, and demand drivers.

Where can I find the info on how you group the different neighborhoods into classes? 

The markets investors like you want to live in and invest in are often two totally different places, so don't limit yourself yo a single plan. 

@Tony Schmucker if it were me, it would totally depned on a ton of differing factors that you may not be measuring (some outside of investment real estate). 

That's looking at it through a narrow lens though, when you zoom out to 5-10-15 years down the road and calculate the difference, in my experience the appreciation has been far more beneficial than the $200 difference per month in cash flow from a different market.

This Sponsor has at least 8 properties in some kind of distress all in different geographical areas.