Thanks again for your feedback and support!

Again, my own concerns not supported by direct knowledge.  

I believe others should be free to act in manner that supports your belief system and situation.  

I'm not familiar with Miami zoning specifically, but I'm guessing you likely don't have the zoning to support more units.

But again, if rental season goes AS PLANNED, sure the sellers can take that $50k right back.Let me know if my thoughts are crazy, this is our first attempt at a vacation rental property and I have a young family of 5 to support!

That depends completely on your needs and what the property can support.

My bigger worry wouldn't be about buying a house that is still appraising for more than you bought it for, it would be more about selling the house you are moving out of and if that's necessary for the support of your family moving forward.Too many buyers, sellers, and investors are going into panic mode, and although the feelings are justified, most decisions made based on panic result in bad decisions for the long-term.

The main issue I have with 'mid market' surrounding cities, and I won't name them specifically, is that there's not the depth of the market to support top of market rents. 

So I support them for the next 3 months  

Since you are at 4 properties, you will not be able to go through the normal channels for a mortgage.