I personally enjoy a misting fan on my patio.Here are some data points below: prices are steady and rates as well; not too much change in the market this far.

That would be approximately $3750 per month based on 5% mngt fee.

Not familiar with the area and rentometer has no data i can find on rent rates.

Some hard money lenders may offer better leverage but the interest rate and origination fees will be higher.  

Aside from the higher interest rate (I will pay the mortgage), one of the areas I'm looking in charges higher property taxes if it's not a primary residence.

ins co's are going sky high on rates, AND being picky as to what new policies they write and/or renew. 

There are no hidden fees.

He's also correct in that the septic systems are rated by the maximum total occupancy of the home (they don't count dens towards that occupancy).

My initial idea was 10-20% down with 7% interest rate for 10 or 15 years after doing research. 1 person suggested a balloon at the end and another person advised against it. 

Assuming you have two spouses who each make $300,000, your hourly rate is about $150 / hour assuming you work about 2000 hours a year.I personally think it is better to continue investing in LTR which will likely be less time consuming / stressful to STR's.You don't want to exchange something where you make $150 / hour(at work) to something else where you may only make $10 / hour.Best of luck