It sounds like adding another property to your portfolio fits with what you want to do, but as Michael points out, you haven't given enough information for anyone to give you an idea if the numbers make sense.

Purchase Price: $350kDownpayment: 20% = $69kClosing cost: $6kRenovation/Repair cost: $40kUnit Make-up: 3 Units (each 2 bdrms, 1 bath) Rent: ~$1800-2000/unit (per rentometer) (Ran numbers based on $1800)Neighborhood: C neighborhood (not ideal)Built: 1901 (Most questionable part, many items may need replacement and extra maintenance annually) Thank you in advance. 

We have since grown the team, left KW and have kept the same long-term focus.Everyone's route is a bit different but if you keep the end in mind, you'll find the right fit.

It's not on the beach but about 1/4 mile from St Joe Bay in a quiet neighborhood. 

- Most Multi Family in my area is D/C Neighborhoods and houses. 

There's lots of things that impact a short-term rental's performance and value that won't fit into that calculator, such as how many it will accommodate, does it have a view, proximity to attractions, are the roads difficult, etc.  

Drive/walk the neighborhood to find properties that look vacant/unkempt and do a little research to find out who the owner is and see if they can be interested in selling.

I'm also looking at Richmond VA, as there seems like there are some cashflow opportunities there, and I have friends in Richmond that could help me suss out the neighborhoods.

I mean, the next time we sell there simply might not be a property that fits our objectives especially in the 45 day identification period.

Altgough, we do have a bigger front and back yard.We bought in a neighborhood that is slowly being bought and flipped.