Using a local bank bought it using the equity form a sfh for the down payment.

I have pro forma statements on various short term rentals in those communities and others that I will be happy to send to you that will help you in making a decision. 

The following are my calculations from the Bigger Pockets Buy and Hold Calculator:Monthly Income: $1,400.00 Monthly Expenses: $1,204.93Monthly Cash Flow: $195.07 Pro Forma Cap Rate:  7.72% NOI  $9,268.00Total Cash Needed $26,750.00 Cash on Cash ROI  8.75%Purchase Cap Rate 10.90% Purchase Price: $85,000.00 Purchase Closing Costs: $2,500.00 Estimated Repair Costs: $20,000.00 Total Cost of Project: $107,500.00 After Repair Value $120,000.00 (conservative)Down Payment: $4,250.00 Loan Amount: $80,750.00 Loan Points: $0.00 Loan Fees: $0,00Amortized Over: 15 years Loan Interest Rate: 3.500% Monthly P&I: $577.27Do you think this is a good enough deal to purchase?

When I invest in single deals so you suggest I form a property LLC which I sell interests to investors. 

*Monthly Income: $2,680Monthly Expenses: $1,140Monthly Cashflow: $1,539.46Pro Forma Cap: 20.72%NOI: $23,833Total Cash Needed: $4,750Cash on Cash ROI: 388.92%Purchase Cap Rate: 25.09%Total Operating Expenses: $693.92Mortgage Expenses: $446.62Vacancy (5%): $134CapEx (10%): $268Repairs (10%): $268Property Taxes: $23.92P&I: $446.62I know the current rent needs to be verified with what the tenants are paying but it is fully occupied.

Sure, you can do a pro-forma calculation... but without somewhat solid numbers, you are really guessing!  

Also, realtors don't exist in the same form as they do in the US.

From what I'm observing, it's like the elephant that's NOT in the room, even though I'm POSITIVE every investor is privately obsessing over the rates as they put together their pro formas. 

It certainly is not easy, and is in no way shape or form a get rich quick scheme.

I'm neutral because there is just SO much supply down there that I believe you can still find deals, but its important to be selective and not take a single offering pro-forma at face value.