However, if there is an emergency, we do have the safety blanket of being able to drive to the other city to deal with a matter since its only a 2 hour drive.

Being guided by rules of thumb can backfire.I've always considered being a landlord as buying a job, sometimes it's a great jo and sometimes not.If you never had the job before, you may miss some things like:A tenant has a guest over who trashes the place...Your tenant turns out to be a cook, a met cook.....Your units/house get red tagged, vacancy may be for months....Tenants die in there, little extra clean up and disclosing the death to new applicants might take longer to rent....Oh, city council just past another safety code for rentals, write a check....Your insurance is cancelled, you don't have a fire escape for the second floor....You find out you still need to evict a tenant who was just sent to prison....It's December 23, 8:00 pm, the furnace just broke down, call a motel....A greese fire just took out the kitchen ceiling.....Oh, the fire burned the electrical, the fire department just red tagged you....The next door neighbor's kid was bitten my your tenant's dog, do you still have the same agent....Notice of Legal Action, April 28th, are you off that day.....Tenant broke a faucet, the place is flooded from the top floor down....Another Order to Appear, a health code violation, the tenant's lawn mower is broken....How's that easy money going for ya?

Have started to look in Dunedin and Safety Harbor.

First and foremost, it ensures the safety and well-being of your tenants.

If it is about cost, I get it, but as far as safety and convenience, cordless are hands down better.

@James Hamling That's pretty razor sharp. 

Now, if the deal is razor thin on margins for you and $10k off of your ideal price makes it a bad deal for you, may be best to pass.

But with rates where they are now, a break even or even slightly negatively cash flowing LTR might be enough of a safety net for me to buy if the STR opportunity was good enough. 

Women, in general, value safety and security. 

Sale price $840k appraised for $930k%25 down - $210kRate is %6.25 adjusts after 6 months.Monthly payment plus tax and insurance = $5,081Current rents: UnitA - 0, UnitB 4950, UnitC $923, UnitD $1303 Total- $3,176 / NOI - $38,112Rehab Budget:Move out costs: $15kStructure/safety: $15kCosmetic: $40kOverage: $7kTotal: $77kCash Out Refinance: Depending on what the rates are in 12 months of course.