Look for areas with high need for rentals, growing numbers of people, and rising business activity.

Florida home prices are high, and insurance costs are increasing.Management: Currently, I manage the property myself, which has been relatively easy.

In most cases your better off buying with "All Cash" and then you can use a "Delayed financing" program to get up to 80% cash back LTC loan to cost.

This typically costs money, maybe $.02 -.10 per record.

I value the role of having a solid network, which I've established in the Kansas City architecture realm, and am excited about getting to know you all in the real estate business in the KC Metro area! 

I would set up an entity that buys the property, you'll put the capital into the business and find an equity split that works for you.

Also, most decent STR property managers will be happy to offer projections for properties, or even realtors who do a lot of STR business as well. 

There are a lot of programs available to help with renovation costs being built into the loan on a primary residence purchase.  

What are the operating costs associated with this ?

We initially met with a couple builders my father has worked with previously and are currently awaiting for detailed breakdown of cost estimates.What would be recommended for taking out a loan for this build?