@Luka MilicevicYeah it is increasingly difficult, but I do have an appreciation for the resiliency and ability for our generations to get creative. 

I've heard that it can be difficult to house hack with FHA loans especially in HCOL nice areas (where I'd prefer to live).

Otherwise, the costs of building pre-fab vs. stick seem to be pretty similar.

Just a reminder I am new to this.A little difficult to make it through the end of the post with typos, not sure I understand it entirely but I'll answer what I could grasp.

I’m thinking about luxury condos for short term rentals since I’d occasionally want to have a place I can use for myself.With mortgage rates so high and HOA fees for many of these buildings at around $1k a month, it seems like investing in a condo in Miami is more of a game of price speculation.

It will also allow you to build relationships in your local community with tenants, contractors, real estate professionals, etc. 

Not sure what they're offering exactly.If you're managing your own properties already, a few more units isn't too difficult.

There should be a way to find out what the cost is of common materials.EDIT - I was interested in what is available on the island, here are some linkshttps://www.msivi.com/ - MSI Building Supplyhttps://www.lumberyardstjohn.com/ - St JohnWell whaddya know - https://www.homedepot.com/l/St-Thomas/VI/Saint-Thomas/00802/... 

I would buy a Timber track log it.. then sell the land to someone who wanted to build but needed a few years to get the building permit etc.

However, finding good liability insurance will be difficult, call your current insurance company of find an experience insurance broker to learn more.