I would focus on established markets that are still showing growth and have more than just one draw.Taking my main market of Tampa Metro as an example - There is more than just beaches, you also have MLB/NHL/NFL + Spring break and MLB Spring training, aquariums, golf, casino, new downtown development, and a lot of business travel.You want to avoid markets with just one draw, as if something happens to that draw, you will be hurting for who knows how long.

Another bonus - the lease payments they'd receive prior are taxed at a lower rate than interest. 

A property I am putting an offer on tomorrow has an upstairs section I conservatively think I can get $1500 for (master bedroom + small bedroom OR bonus room for office), then two bedrooms downstairs for $1,000 each.

My family of 6 live and own in a ranch style 3br/2.5ba house with completed bonus room upstairs in a HOA neighboorhood.

I'm very happy for it and (bonus!)

The shed should be entered as an asset and deducted in full via bonus depreciation.

Good news, you may be able to take accelerated bonus depreciation / expenses repairs immediately and get a tax advantage from thisBad news, you still need to deal with this issue from tenant/PM.I found this thread from @Bob Beach helpful where he shares some read flags on property managers. 

Here’s an example of bonus depreciation.One way that you can still benefit from a cost segregation study is by utilizing the Short-Term-Rental (STR) strategy on your property.

I can tell you that 3 kids can do a number on a house - especially if you add in a dog as a 'bonus'.  

Bonus: You get to stop paying any fees related to the FL LLC.