(make sure you are budgeting for maintenance and management if you plan to use it) Rent will increase over time and your property will continue to appreciate in value. 

A lot of investors start in their backyard and eventually expand once they hit barriers like affordability and competition.You mentioned that Florida’s housing supply is increasing and that we could see some price corrections.

Eventually, Class A property values increased to the point that even increasing rents didn't allow them to cashflow upon purchase.So, the flood of new investors switched to buying Class B properties.

The right renovation will increase your cash flow and reduce maintenance costs.What to Renovate?

A cash-out refinance or home equity line of credit (HELOC) can be powerful tools to keep your momentum going.Focus on Stability:Look for investments in areas with strong job markets, population growth, and consistent rental demand.

Listen to Brandon Turner's podcast where someone he interviewed shared how this made a HUGE increase on her income: https://open.spotify.com/episode/1bS4eL80KL1rWY4vyCMjXh?

With high home prices, rising mortgage rates, and intense market competition, securing a property has become increasingly difficult.A recent survey found that over 60% of real estate agents reported instances where Gen Z buyers lost out on homes due to delayed decision-making, missed appointments, or hesitation in making offers.

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

Yearly increasing costs will, in time, eat up any profit they have per unit.

It does beat the expected inflation rate of 2% set by the Fed.Rents will remain about the sameWhat’s interesting is they also expect:A 11.7% increase in existing home inventory followed by Single-family new home starts growing at an impressive 13.8%.