Assuming the rents cover your expenses, in 30 years when the mortgage is paid off, and you’ve done the smart thing by raising the rents over the years, you will be sitting on a multi-million-dollar asset that you own free and clear that cash flows thousands of dollars per month at the cost of a measly $15k or so out-of-pocket 30 years prior.

Success is a process, failure is a choice

Trying to make smart investments for long term income.  

Its almost as if ever other investor feels has the magic formula and they try to make you feel as if you have no idea what you are doing in your investment choices.   

If they choice to sign a lease and pay you- great!

@Ryan Keenan Smart choice to stay away from condotels, especially in the Central Florida market.

Sounds like you really have two choices, the obvious ones!

A smart investment is always better than paying rent.

That's more of a choice as I am not wanting to buy this unit with partners but our own capital.

No real rhyme or reason, just a personal choice.2) Rents for SF's tend to be higher than condos. 3) Don't have to deal with HOA's4) Much more freedom with an SF.