I'm curious if other operators have experienced similar trends in their markets?

Hi @Joshua Biondi Nice job being proactive.

Do use a standard written application form with an ink signature that reads very closely like a job application. 3.

The most critical part of the operation is finding good tenants.I currently self-manage my own property as an out-of-state investor in Arizona so I have some experience.

It's the parents job to raise the rug rat; not that landlord.

Is the home already outfitted with everything you'd need to operate as a STR?

If there was a dry cleaner operating there in the past, for example, you could be on the hook for environmental stuff, to give one quick example.#3: Definitely expect insurance to keep climbing, especially for Tampa.

@Matthew Banks yeah, lots of people get surprised when they hear the ol' "quit your job" pitch about real estate and learn that they traded one job for another. 

Generally you want to stick with what you're good at which is investing and your full time job and find a broker who is good at insurance and understands the investment side of real estate as well.Expanding on my comment further condo insurance is different than a single or multi family home as you are typically insuring the "walls in" of the condo as the association is responsible for the exterior of the building.

More importantly than merely creating an LLC is the documentation and how you operate your business.