(@Paul Sandhu is an expert at this but I suspect his demographic is very different from what you'll get in Orange County)What I have to add is: see if your homeowner's insurance policy offers a rider for short-term rental usage.  

Typically 10%Most importantly, compare apples to apples and not apples to oranges. 

I have seen my mom who owns 6 cabins do this a few times even out of state when we lived in Orange County Ca.  

I live in Orange County and have an office in Long Beach.I flip with 100% Hardmoney/Private money!

We do projects from Silsbee to Orange to Nederland!

Oh wait...if its FHA buyer is owner occ.. this is not a make money deal and a flip.. apples and oranges and since you admit your not up to speed on FHA this is very common.. seller can either come down. (* which is what happens to me) or they terminate.. and they can be butt heads and not sign the EM release out of being in a snit.

Russell,Talk about an apples to oranges comparison. 

You'll just have to ask around to find them.Unfortunately, Orlando itself has strict regulations on STR's, for starters they must be owner-occupied - with the exception of just a few communities like Vista Cay which is in Orange County.

I have a friend in Orange County (CA) who could always step in for emergencies and travel to locations if needed.

it's simple math...whatever your buyers want, you should understand, even if you disagree with their strategyYou're comparing apples to oranges Bryan.