We considered option of buying a rental home with room to add an accessory dwelling unit (ADU) and use that as an Airbnb.  

Our goal is to replace my income through various revenue streams and have a solid net worth of over a million dollars.

Depending on how hilly, streams etc. the cost per acre to clear could be 30k an acre or 250k an acre for example.

As for the insurance, it breaks down as follows: $725 for a 3 month Builder's Risk policy, $725 for a 3 month Vacant Dwelling policy after rehab is complete, and $1300 for flood insurance (annual).

You are swimming up stream.

Mortgages are available for buyers of duplexes, as well as of three- and four-unit dwellings.

The vast majority of private lenders are not going to loan on an owner occupied dwelling.

(look at definitions and case law defining "family")F.S. 83.52(6) - Tenant’s obligation to maintain dwelling unit - (6) Not destroy, deface, damage, impair, or remove any part of the premises or property therein belonging to the landlord nor permit any person to do so.F.S. 83.54 Enforcement of rights and duties; civil action; criminal offenses.

My ultimate goal is ambitious though not unique to BPers: I'd like to be able to have my passive income stream match the income I make from my day job.I look forward to being an active member here and meeting everyone.

Personally, I would first look for a local freelance project manager or one with-in a smaller architectural firm moonlighting, all of whom should have a solid track record with your type of dwelling, budget, schedule.