Some quick googling suggests the answer is yes provided I don't rent it out more than 180 days for the first year, do I understand correctly?

So, you go over budget FAST.So, your Scope of Work (SOW) MUST be very specific as Mr Perez learned when contractor didn't put in new outlets.To "perfect" your SOW, suggest you walk the property with 3 contractors and ask them what needs to be done.

I might suggest going directly to one of these guys. 

My suggestion is to continue being active on BP, get out to some networking events and seminars and also educate yourself through books and podcasts. 

However, if they fail to meet any of the agreed-upon payments, I request that they vacate the property.Great suggestion.

If Tampa is on your radar, I HIGHLY suggest you connect with him. 

If anyone has any advice or recommendations on how you would get started in real estate if you were in my shoes please let me know any and all suggestions would be greatly appreciated!  

I'm open to suggestions and thoughts.

And there is a lot of appreciation potential.For someone just starting out, I'd suggest focusing on traditional long-term rentals before jumping into short-term rentals.

Any suggestions I should consider before engaging them?