If you can get it to 100% occupied and paying, you would essentially double the value. 

If not, you can get a lot of the benefits without doing much during the project.

I’m trying to give the benefit of the doubt and think maybe they’re on vacation and simply forgot to renew the website and I’ll hear back soon.

Essentially, I reward them for making the deal possible. 

Forming relationships and hustling are essential in a tight market.

Essentially anything in that tax zone rather than a city is STR friendly because Brevard County is friendly.You'll still need to pay taxes to Brevard and to Tallahassee, of course. 

Do you essentially just throw out those leads, or do you try to follow through with them despite being in areas with lower cash-buyer activity?

Best of luck to you two and congrats on being aware of the financial opportunities of REI at such an early time in life...you guys will benefit in a huge way! 

Or do you buy only at your number and consider increases a benefit?

To appreciate the 20% and refi as a conventional will take some time and there is costs in doing a refi. combine that with the fact that using VA essentially makes you buy retail, it's not as glamorous as one would hope.One actual advantage you can get is buying foreclosed properties from the VA.