Hello, So I saw that most places categorize rentals as just str or long term, mtr is just another option investors came up with but in the eyes of the state it’s not recognized with its own rules and regulations.

In Florida, some local ordinances limit the number of occupants in a rental home based on the number of rooms.

The Plan is to come up with $400k for the down payment and for that I'll need to sell about 3 of my rentals. 2 of them are single family with a ton of upside, so I don't foresee any issues selling them.

I'm not sure what the renovation cost would be to set this up for a rental.

I am also considering investing in short-term rental properties on the West Coast.

But there are also a lot of run down rentals. 

What are the pros and cons of this type rental?

triplex or fourplex will not satisfy self-sufficiency test as FHA requires that the property’s rental income covers 100% or more of the mortgage payment. 

They have a convenient website where you can track your rentals and the money you are receiving from them.

We also currently have an LLC set up for our short term rental operations which we have been already running out of our spare room in our home which will cease when we rent it out.