We've had our primary residence for a year and having our own space (finally) has been a breath of fresh air.

I will second to say this is common practice.The intent of this part of the contract is for your Liability insurance to respond any slip and fall claim on your property, not the PM's Liability insurance. 

But unfortunately a 1031 exchange is only available on property you have purchased with the intent of holding for productive use. 

Also worth noting not only does your agent need to know your intentions of investing but those intentions need to be communicated with your lending and title officers.

@Fahima Hilal It's tough to tell without more specifics but generally when I find myself in a deal and I react emotionally to it I counsel myself to step back, take a breath and be patient.

I would let them know of my intentions, "hey, I'm test marketing this concept, I just wanna get it right..."

@Syed Lateef Are you moving ahead with STR in Miami and is that your intent in Dallas and Austin?

Just be patient and....... breathe.

That was the intent of my original question.

Just take a look at who's leading the charge and his intentions are very clear!