It has been listed on Zillow for 4 days, I have a ton of views on the post, but only one contact and person interested.It's making me ask myself the question- when should I lower the rent?

Is there any waiting period until I can use these proceeds, not to lend again, but to spend personally? 

Personally I'd use it as a DP for a hard money loan on a flip or BRRR.

However, it's hard to know whether that person is marketing and operating their STR well or not.

Some have online systems, and others require you to go in person.

I'm not a fan, of this idea, but there are some property managers around that charge $150/person app fee. 

But one point that wasn't made ... if a storm comes through, and even if YOU don't make a claim but most everyone else does, YOUR rates will still go up too. (95% of the time) Because they gauge the rates not only by personal details but also by the claims in that coverage area/zip code. 

I personally know two people who are flipping mobile homes and have good success. 

If in doubt, consult with your tax professional for personalized guidance.

I have personally spoken to 3 attorneys who all said the same thing as you, and I have communicated the same to the board.