Let the agent know that while you’re interested, the property’s condition and local comps don’t justify the asking price.Taking a warm, conversational approach can make negotiations smoother and improve your chances of getting the deal.

Not only will you not be able to renegotiate after getting the approval, but documentation of condition issues will help you to get a lower appraisal to begin with.Be prepared to move fast after the approval letter is issued.

Those conditions don't exist any more, and the government has the right to regulate land use to try to prevent the current conditions from repeating. 

Plus, because of the growth of the area and the elevation (you just don't get the cool weather once you drive down the hill to Brevard or other areas), SO MUCH money has eyes on it. 

You can use zillow for this or yor agent.You want to go for Max cash flow which means you have to figure out its current rents per door and if you can raise those based on current condition or if will need updates/repairs. 

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.

Those that cannot weather the storm get wiped out.Having cashflow positive properties provides a margin of safety you just do not have with negative cashflow.Why are you focused on buying in your backyard? 

I’ve found a duplex that seems to be in good condition, with both units currently rented out.

For example:Let’s say it is a $450,000 home in good condition.

If you're prospecting the entire coast, just keep in mind travel times for tours and be mindful of the weather.