If your operating costs are below the market, your NOI will likely be matched closer to the appraisal's market rents.

A lender may want all properties insured by the same company with the same renewal date, so you may need to adjust things and see your agent before applying for a blanket mortgage simply to know what the costs will be. 

so, just something for you to think about - that a 3 or 5 or 7 year hold period probably won't get you enough appreciation to offset transaction costs. 

There are closing cost so either you will need to pay all those or have some downpayment to cover them otherwise the seller is paying to offload it. 

I am in Florida as well up in Pinellas by the Gulf Beaches and know that Miami is costly!

 $150/month is nothing… and given your closing costs of say $16,000 if you sell, it would take 8+ years to recover that $16,000 at $150 per month.  

I have help with the 10% and closing costs.

"High" should have the exact effect of a bigger price swing between low and high demand dates.

Currently I hold a few rental properties in California, but I am looking to expand out of state mainly because of the cost to acquire new properties in California has made it difficult to grow here.

Got this note from VRBO today:Dear Partner, We are writing to inform you that effective July 1, 2024, California Assembly Bill 537 will prohibit advertising, displaying or offering a rate that does not include all fees or charges required to stay at a short-term lodging (except taxes and fees imposed by a government on the stay).