Nobody will be much help until we know the full picture.

This is our first time with STRs, and we’re willing to learn.

Any help?

It's really difficult.Some attorneys will help with collections, but their results aren't great and you have to pay them for their time, whether they collect something or not.My suggestion is to turn this over to a collection agency.

Has anyone else run into anything equivalent?

Seems like this property is not really cash flowing on year 1 or 2 but there is a good potential for appreciation if I buy and hold.

If you have any experience with this, please let me know how much your investor insurance is for Florida on a vacant house.  

Any suggestions for what coverages need to go into the property insurance policy? 

This is for all the 'co-own curious' folks out there.I recently started a project aimed at making it easier and more affordable for people to co-own (and manage) homes together. 

Hope this helps!!