I think if your ranch is accessible within an hour of a major roadway and 1.5 to 2 hours of a major airport you can make anything happen.

This can be effectively addressed by strategically placing the mini-split units in locations where they can facilitate airflow into adjacent spaces, and by implementing simple modifications like undercutting doors to promote air circulation.

At this point I would own two adjacent 2500sqft properties in a booming area. 

The total use of property will be for <7 days on average, however we will not be providing substantial services to the guests ( for example, daily cleaning/cooking breakfast, maid, touring, picking from airport, etc.).

There are tenants that always pay rent on time, never report a maintenance issue (that can be good and bad) and even alert you about ongoing developments in the neighborhood or at the adjacent properties.

To Tommy:The presentation I was in last week discussed that very thing: that properties adjacent to a QOZ are likely to benefit from their proximity. 

WE go to the Squadron Investor Club by Miami Airport there are some military colleagues from Southern Command Doral.Welcome to BiggerpocketsLuis Maqueira MMP

Your friends return is also predicated on when he bought, a few short years ago property values were 30% lower and rates less than half what they are now.That being said Tampa is great because we have multiple draws: Beaches, Pro Sports, Bourgeoning Waterfront Downtown area, Busch Gardens, Midtown, World Class Airport bringing in Business and International Travelers, and more!

Use Excel’s IRR function to calculate this by showing the investment contribution as a negative number in the first column, then the cash flow from operations, refinances, and sales proceeds (added together) each year in each adjacent column.

Generally an A-class townhome, not luxury but luxury adjacent.