I don’t have any money to bring to an investment, at least not enough to make an impact.

Petersburg area has an 11% chance of feeling the impacts of a hurricane in any given year, so I don't know why you'd take such a risk when Arizona is measurably a safe bet. 

Our cash flow was impacted solely due to converting one unit in the off season from STR to LTR.Note our STR was not beach front, it is I think 5 houses from the beach with virtually zero beach view. 

Needless to say, this has had a tremendously negative impact on their relationship. 

Both of those are VERY rough and I would bet they impact property values.

I would consider the ROI, the work, and the impact it will have on your life good or bad. 

A lot of time people only think they are risking their current investments, but in reality if there is a lawsuit that exceeds (or is just refused) your insurance they can take both personal assets along with your investments, impacting your long-term goals.Generally though, I break it down into the "five pillars" of protecting your assets. 

It's really hard to predict future impact on the value.   

If so we'd love to hear how those have impacted you and/or your tenants. 

I didn't mean to put a tub in the second bathroom, rather you could use the shower in the second bathroom and not put in a large walk in shower in the ensuite.When markets change, it can impact some neighbourhoods more than others.