You can run a title search on the property now to try and discover any defects in title prior to fully owning the property should it come to that.Property insurance for an non-owner-unoccupied dwelling will differ from policies that cover owner-occupied residences.

With Tampa rents increasing the highest in the nation YOY more than any metro it might be the way to go for an additional source of income.Below is some of the basic requirements to get a Tampa ADU building permit:Accessory dwelling unit.

When it comes to tax strategy for a property with an accessory dwelling unit (ADU), there are a few considerations to keep in mind.

A homeowners policy covers the dwelling and your stuff but for a landlords policy you have a much smaller coverage for personal property, I stick with 5k for kitchen appliances. 

I have a unique potential rental that is a SFR and a triplex on the same lot.I reached out to my normal lender today who said they can't finance 2 dwellings on 1 lot per Fannie Mae.Is this really a thing?

In the meantime, I had my insurance agent secure a vacant dwelling/builder's risk policy for renovations after close.

It is hard to interpret laws and statutes correctly sometimes even when you are an attorney.I will site that the Statute 83.49 (2) does mention the exception 5 individual dwelling units.The course manual contradicts itself when I interpret "5 individual dwelling units And are not using the services of a Real Estate Broker"  If you look at the Nolo (written by lawyers) website "Florida Security Deposit Limits and Deadlines" they mention the notice of "the name of the depository" "interest or non interest bearing account" and "Interest Rate" and providing a copy of the statute 83.49 (3).Additionally in the book from attorney "Mark Warda" "Florida Landlords' Rights and Strategies" there is mention of keeping the money in a separate account.If the lawyers advise that it should be in a separate bank account, Do you want to pay the attorney's fee to find out your wrong?

@Jonathan Johnson My deductible is $2,000 and the dwelling amount would of course vary as they determine that after asking a bunch of questions about the property.

If the short-term rental dwelling unit is not the primary residence of the permittee, no permittee shall, for compensation, provide lodging for more than an aggregate of 90 days in any calendar year. 

And you lucked into a multi-family dwelling(please pass onto me your lucky rabbit foot lol)Have you read The ABC's of Real Estate Investing?