I’m currently exploring the Short-Term Rental (STR) market in Ft.

Q2 is most important: If the mortgaage is upside down, it would have to be an approved short sale and that could take a very long time to rectify.

But neither do you, yet you started with:"Short answer is "yes"  - which I consider misleading.And you manipulated the OP's question to fit your agenda.

We are now doing short term rentals but we're thinking about changing to a small wedding venue. 

In short, you ride the 'coattails' of the previous owner's taxes for the first year.  

Shortly thereafter, I got an email from the title company that was handling the closing of my second wholesale deal.

Now take short-term AirBnB properties like one of mine in Miami.

Hi BP community,I'm going through a landlord's worst nightmare now, long story short, I have a fully furnished rental property in Florida, previously an AirBnB converted to long term rental. 

Thanks, I'm looking to get into short term or long term rentals for starters.

When a rental is taken out of service for personal use the accumulated depreciation goes away over a short period of time.