This is a very good point, some of the land is wooded but one idea I had was building a tiny home in a cabin style somewhere on the property , and using it as a STR. it was further thought about as over the weekend I just stayed in something like that!

Storage sheds that are converted to living space must then conform to Zoning for the Main House or ADU setbacks, and may need to match the architectural style of the house (every jurisdiction is different), as well as Building Code, including correct footings or slab for flood areas, hurricane straps for winds, current requirements for septic tanks/fields (common even in Pinellas County), and the egress (one 36" door) and bedroom window emergency escape requirements. 

They're run by electricity warming up wires and are only suitable for limited spaces as a mostly cosmetic/splash feature under bathroom tile or even just small spaces within bathrooms.

Purchase price: $174,000 Cash invested: $42,000 BRRR style live in remodel small duplex-did most of the work myself.

That being said these are long term investments and ONLY suitable for individuals who fully understand the risk and who fully understand their money is locked up for 5 to 7 years.

On the surface it would seem like a lighter lift to convert it into dorm style housing.

I have learned a ton about the different construction styles thru the eras and what problems they will have.

If a tenant is not suitable for a rent to own scenario, would you agree the best solution is to hold a potentially short vacancy and find the correct rent to own prospect?

Until two months ago we were pursuing early mortgage payoff Dave Ramsey-style on our primary residence.

.)- The product and what the market wants (Style, appliances, security, rent price, etc.)- What is a "good deal" in your market (Each market is different, so you should practice doing an analysis on all types of homes to see what is a common denominator and go above that)Basically always be LEARNING!