The rates I've seen are roughly the same you already have, so no sticker shock there, and if you choose to simply pay the line down, it can happen a heck of a lot faster than if you paid down a loan because you can put all your income into the line without worrying about pulling it out in case of need or emergency.Best of luck!

Giving them the second cash offer takes this power away from them, makes them more confident in your abilities, and makes them feel still in control by having two options to choose from. 

As much as I personally would love an STR, I wouldn't choose to buy a place where I would have to rely on STR income. 

Whenever it is mentioned (or any other word you choose) you will get notified.

@Cathy Song is the garage I used with their rent ?

Save up.Perhaps, if you feel the urge and are comfortable with higher risk, you can use the money you have now to advertise, sending yellow letters to distressed property owners in the hopes of picking up a place below market value using hard money and rehabbing it to refinance cash back out, but it's not always the best idea to start with a complex purchase with tons of moving parts before you've jumped in the game the traditional way.Best of luck, whatever you choose to do!

We also choose a condo in FL directly on the ocean that is fully supportive of STR.

Do you have any certain criteria for choosing the properties?

Wherever you choose to live you can rent by the room.  

Go through the lending process of providing documents to the lender, work with an insurance broker to secure insurance for the property, connect with property management companies and choose one to manage the property, the appraisal will be completed, the down payment (20-25%) will be wired to escrow, close on the property and there you go, you are now the owner of your first investment property.