Maybe something you can put a little work into to get your feet wet before going fully after distressed properties. 

Not trying to be a wet blanket. 

However, this could also be a huge opportunity to get your feet wet and start learning through trial and error.

I want to get rid of this as soon as possible, but I really don't want it to come at the expense of me waiting even longer to get my feet wet in the REI game.

The insurance world is heavily regulated and you might not be able to do what you think you can do.Don't mean to be a wet blanket...

I am looking to get started in multifamily real estate investing and would love to attend a few local conferences just to meet local individuals in the business, perhaps discuss deals and get my feet wet underwriting deals. 

@Dave Foster Tax would probably be $20K that I'd rather keep and fund a cash flowing investment, but I'm just getting my feet wet with 1031, I'd heard of them before, but never considered it until this week.

But that will never happen of the cash value is not earning interest/dividends.Try to cough up the IBC Kool-aid too.

You have the typical family oriented neighborhoods, Business districts, Amenity area like Busch Gardens, Wet & Wild, Raymond James Stadium which can bring in a good STR for games, and vacationers in general.I am open for discussion if you want to talk Tampa or help offer some neighborhoods for thought. 

I am also considering STR after I get my feet wet with LTR and figured staying in the same market would beneficial down the line.