Plus, my work history is pretty slim—I only worked for a couple of months during college.I'm eager to do more, to explore new avenues of passive income, and to soak up knowledge like a sponge.

Found it online.

I would just use online free tools for application, screening and rent collection.

Can you truly afford to hold the unit for months without any income from it?  

Hi Christopher, I'm a realtor in the area and I thought I'd run some numbers for you just to get a better picture of the risk/reward of a LTR vs STR.Currently netting $250 a month on the LTRIf you rented it as a STR on a nightly basis for $135 with an expected estimated vacancy of 56% (average for the area) that's a gross income of $21,681 less your mortgage $17,400 and less expenses such as water electric and internet of an estimated $4200 puts your annual net at $81.To make the STR profitable for the additional work you'd have to rent it for more than $135 a night and for more nights than the Nashville average of 44% occupancy. 

Flip income is active unlike rental income. 

Hey @Liam Bell - firstly, wow congrats on the future income you will be making! 

Florida has over 1000 people moving in a day, our supply is almost non-existent compared to the past and even condos are giving amazing returns (example: we have a new condo purchased at $270k bringing in $4k a month in short term rental income). 

Will you have more or less cashflow per month (including your income from a job) before or after this perspective deal.

@Nicholas BetancourtYes, a separate bank and separate credit and debit cards will help with tracking income and expenses and will help with tax return preparation.