This is common in my area/Colorado in general especially the ski towns that still allow short term rentals. 

What recommendations do you have in terms of what to take a look at/action items after 1 year? 

You could only evict for health and safety issues.  

Tampa is not only a great STR market, but is also leading the way in Floridas real estate market with development, job growth, and net migration, which are all important fundamentals to long term growth.

I am on the opposite side of you on the Mortgage Banker side of things seeing things skyrocket in terms of applications right now with out of state buyers. 

@Nick Sansivero, Like @Bill Brandt said, you'll probably have difficulty getting advantageous lending terms for that property in a new LLC. 

So far so good, tenant is good and says " they plan on staying for as long as I let her.

If you don't allow them to stay, they will likely need to go to a long term stay hotel or something else similarly expensive PLUS pay for storage for their belongings, PLUS pay to move their belongings twice rather than once.

The Annual Allowable Rent Increase effective August 1, 2024 - July 31, 2025 is based on the lesser of 4% or the change in the Consumer Price Index (CPI) for the Los Angeles-Long Beach-Anaheim metropolitan area.

There are many ways to invest in real estate, and many different forms of financing, and the "best" type will depend on what you are doing, your funds available, and so on.Here are a few examples:Many investors that buy and hold long term residential properties will use your standard conventional financing (typically 20% down for SFR and 25% down for 2-4 units).