Part of the reason I threw myself into work and used to work 60-80 hours per week until I was let go last year when a new Upper Management came on board and started replacing managers with personnel from his previous employer.

A novice going out of state to start is an absolute recipe for an unmitigated disaster -- just look at the out-of-state threads on this board.

If you're near a medical and/or law school, monthly rentals are preferred by those who are preparing for board exams over vacation rentals as well as by visiting professors. 

Asset protection in case one of us getting sued (I think it was a BP podcast episode where a lawyer told the story about the son hitting someone with the car and the family of the kid that got hurt suing them and them having to surrender their house.)

I have to read the handbook on landlord-tenant laws before I do anything and just to be safe call the Rent Board, like my recent rent increase with lease renewal. 

"Income Charge- This charge may only be levied by the Board in accordance with the Community Authority Declaration.

Doesn't matter if they have 3 kids or not, if they are late on rent, file notice and if they don't pay...start the eviction.Stick to the facts when you go in front of the judge and you should be fine. 

No and you need to put this on hold and research the condo nuke that's about to hit Florida in the form of new legislation that no longer allows condo boards to defer necessary repairs. 

I lived in the Poconos many years ago when I was a kid and the same STRs that are around now were around then, only they weren't called STRs back then.

Acquires a new one via capital injection annually, and with the pyramiding, after 20yrs of this will be siting on a nice holdings that is planned to fund kids university tuitions via rents at that time, which around yr17 we will start deploying into assets with more of that cash-flow focus.