Are you planning to invest only in your local market, or are you open to exploring opportunities elsewhere as well?

I set the monthly rate based on Airbnb's suggested rate (market rate) and the 20% discount per month.

You can't arbitrarily decide that you don't want to allocate any of the proceeds to the portion of the property that will create Ordinary income recapture (thus can't be included in the installment sale treatment) - it should technically be allocated amongst all the assets in accordance with their fair market value at the time of the sale. 

That could be a viable strategy in your market (OC).

It's great that some ST rentals have a 6-month waitlist but that's the case in many markets and these listings are in the minority and most likely run by experienced short-term operators.

I am actively researching markets like Cleveland and Columbus, but I remain very open to other opportunities.My goals are to successfully fund and execute a BRRRR project, build a team of veteran investors and mentors, and continue learning to attain financial freedom through real estate.Excited to connect with seasoned investors and mentors.

DTI and Credit scores are excellent and the property has been owned for more than one year.I realize that there is a "Find a Lender" function on this website, but I really don't want to be spammed with marketing emails. 

The biggest drawback I am having is calculating cost for repairs & finding a reputable contractor for a fair price - I know nothing about renovations right now.  

When buying a Real Estate consider property tax new cost specially in today's Market.

Adding additional assets, a familiar market, buying a house "for free" as I call it, and gaining experience with lower level of risk How did you find this deal and how did you negotiate it?