We really liked tarpon springs area and were hoping to enjoy the place as well a few times during the year.

I am looking to build a SFR for short-term rental, would be my first-time new build.I have engineer plans for well and wastewater stamped by the state of VT for up to 4 bedrooms.

What’s your anticipated hold period?

I believe right now is an amazing time to get into real estate as there's deep concern and even fear in the marketplace which is just when you want to come in.

Thanks so much for the time for advising. 

What if I don't have a job or income but time?

I'd try to pay it off as quickly as I could, especially if the interest rates on it are high. 

I’ve actually utilized the BRRRR method a handful of times with great success.

You may also have the owners stay on {part-time} for a season or two to help train the new management (you).Acquire the hard assets:  In this scenario you would only purchase the real property and those hard assets (docks, boats, etc.) that you deem would be beneficial.  

What's a fair amount, well that depends on what this is actually costing you in terms of actual expenses plus the time and hassle involved.