With $50k-$60k available, your price range is probably going to be in the $200k-$300k range, depending on the cash flow.

We are planning on purchasing an STR (probably condo) in the Treasure Island area of St Pete.  

Overall was a good experience but probably not what an investor would be looking for.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

That said, if you can afford it and have the reserves, and more importantly think you have a decent chance of increasing revenue with the vacant units then I'd probably go for it.

In my firm, you would probably pay around $3,500 for this tax preparation, including Form 3115.

Thanks again for your input, and I'll probably reach out as I get further along in the process.

I'd probably just wait and save.

They will all probably work. 

Hey Axel, Would love to give my two cents if it would be helpful at all.Peoria, IL - Probably the healthiest market of the three with a lot of middle-income rental rates available and opportunities for good cash flow.