Overall buying based on "AirBnb potential" sounds like a terrible concept. 1 excited municipality can wipe out your profit with the swipe of a pen.1.

If someone has terrible credit, but can show steady employment, good rent:income ratios, good Landlord references, and they are willing to pay more up front, then I'll consider them.

If you are in a non-regulated state, I've found that all of the terrible, unpropfessional and inexperienced PMs will do your advertising for you, the doors just drop in your lap if you know what you are doing. 

According to the zoning chart, non-owner occupied STRs in commercial zones are covered as - PC Permitted subject to certain conditions (Ch. 17.16)Owner occupied STRs in commercial zones are covered as - A Permitted as accessory to principal use (Ch. 17.16)So if you are doing non-owner occupied, you need to find out what certain conditions need to be met in order for you to do it.Personally I would avoid Nashville as it isn't terribly STR friendly and there is not sign it will get better.

It's a terrible deal at the asking price.

Just a heads up, cash out refinances will look normal at 60% loan to value.  70% loan to value with 780+ credit scores its a little worse, but not terrible.  

They typically won't place a terrible tenant in a rental for a year when they know they have to deal with his problematic behavior.

@Vaishaag PanegalThe 1st picture on Zillow that shows for me is a terrible street-view picture and not the great photographs that your PM took.

My main concern is that I know a traditional rental in Philly/NJ will perform but I'm not terribly familiar with the return on a vacation rental in SW Florida; it's more of a risk IMO.

@Jack LiuDitto - Great zip code to live in, terrible place to find cash flowing properties.