We would eventually move into the second property and establish it as our primary residence (6-10 years from now).  

The old saying is "You marry the property, but date the rate" meaning the property can be held a long time but you can refinance over and over.

Long story short, I am getting out of my 15 unit single family residential portfolio in South Florida.  

MTR is great, but there will be long "orphan" periods in between bookings, which leads to lost revenue.My advice, stick to areas that are more STR friendly and blend the rental strategy for maximum income.

I'm hoping someone will clarify...RentsAdvertising / Auto & Travel / Cleaning and maintenance / Insurance / Legal / Repairs / Supplies / Taxes / UtilitiesMortgage interestDepreciationFor long-term rentals...what would be an example of CoGS?

How long have you been investing in properties?

Also, what type of property (turnkey or fixer-upper) / and your rental strategy (short-term vs. long-term)?

Around 20,000 homes in Maricopa County alone last time I checked.

I had the ability to invest anywhere in the Metro Detroit area I desired.I intentionally chose Detroit because I was certain it would outstrip the suburbs in terms of appreciation, and it blows aways the suburbs when it comes to cash flow.I've been dead right on that for the last 5 years, and I don't see the trend changing any time soon.

I've never heard of it either.Has it been around for long?