You should have a good idea of every expense you have in your primary home, then add the STR specific:  (These are rough estimate numbers, depending on various factors)STR insurance - a special insurance that covers both the property and your liability, could be $2~4k in areas without natural disasters, could be more than $10k in some other areas.cleaning fee - approx. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

A lot of the success stories and content we’ve seen in the past came from a very different rate environment, so I’m definitely factoring that into my approach.For now, I’m planning to focus on the Jackson County/MO area, specifically around Lee’s Summit where I have some local support from family.

You have to factor in demand and vacancy rates to determine if it will be more profitable, and that’s specific for each market.

It explains the team that you should develop to have a strong foundation under you while investing remotely.https://www.biggerpockets.com/blog/core-four-real-estate-team

I'm also in FL and am a RE investor (STR/MTR/LTR), developer, and just love RE and the freedom it brings.

Several factors at play: the sales market has been slow so many would-be sellers are converting houses they can’t sell to rentals, lots of new construction units have been completed recently, and in-migration has slowed down a bit.

Single family or multifamily, flips or rentals, new developments in light areas or infill lots?

That is another factor that a bank will consider. 

The precise property forecast can vary depending on a lot of factors but the general demand is really what you should use the tool for to make your plans. 

You will also have to factor in the closing cost for the new loan.