This gives me 12 months to educate myself, study my market, run numbers, network and build my strategy.

They all make sense (atleast the ones I have studied indepth) just hard to decided one if you think you could excell and enjoy all of them to a certain degree. 

While the deal was going on I did not take on any others, just to study this and learn all the moving parts of a RE transaction.

We are in our late 20's and have been wanting to do this for years; I have been studying investing, off and on, since 2013 when I found Bigger Pockets and we decided that now is the time to take the next step.

Study your market first.

But what I've realized is that a lot of those studies include second homes (236,000 units in Miami alone) as vacant which should definitely be accounted for. 

If you are going to analyze this property be sure to check insurance rates as this property is older and there have been some recent increases in insurance and reductions of coverage for water damage and you may need to do a wind mitigation study which is cheap to get insurance rates reduced. 

.), however I would like to open a discussion to fellow BP members on their experiences.Currently my objective has been to study the markets and demographics of different areas and find one that suits me best.

One of the first things I learned when I started studying REI, was that the estimates on realty sites like Zillow, etc. were wildly inaccurate. 

Start amassing knowledge by carefully studying RE investing.