A 3% vacancy is you anticipating that the tenants will stay an average of 33 1/3 months before moving. 

Many people and even insititutions entered the STR game and purchased properties at high prices, anticipating returns 5x that of standard long term rentals (1 year, 18m etc).

You can offer him 10k in 2 years in anticipation of appreciation but don't feel bad if he turns down your over generous offer.

Would it be best to establish additional savings accounts to hold deductions from my anticipated operating expenses (management, maintenance, misc)?

It is only due to my planning for the worst, (although the worst is much worse than anticipated)that enables me to keep this deal in the black.I did get a full eviction of one of the occupants and am awaiting the final date from the Sherriffs for removal and lock out.

I'm not certain of my debt to income ratio at the moment, but if I try to mortgage out a property to purchase another, does the rental income I anticipate getting from the new purchase factor into the debt to income calculation?

We just hit a record high for home prices and the experts I trust are anticipating stagnation, possibly a reversal in value, over the next couple of years. $600 x 12 = $7,200 per year or $21,600 in three years.

So far here are my anticipated costs and anticipated return. $33,000 - lot purchase price$6,000 - 2010 3 bed 2 bath manufactured home$3,000 - transportation $11,000 - set up costs (includes running city utilities to the home, decking, skirting, foundation)$6,000 - repair costs$5,000 - misc$64,000 all inRecent comps show we can sell for $140,000. 

I actively help investors in both markets and have seen more investors buy in Ocala after reviewing deep pro-formas I put together for them.FYI- if your looking at pure appreciation, markets like palm coast are are anticipated to get more appreciation.

I'm not so sure prices will correct but anticipate they will flatten as the supply and demand normalize which may take years.