My thought is FLA is sandy soil and you simply dont have as much problem as other areas.. its very cheap insurance for a buyer.. and now a days 10 to 20k to replace the line is kind of the going rate..

What kind of return you can accept depends wholly on you.

I definitely prefer to be an asset and not the kind of small business person that doesn't enrich or contribute. 

Versus if you leveraged, you could buy multiple properties (or larger projects), and be in a better position in the long run.The reality is real estate kind of only makes sense if you leverage.

Would some kind of deal like this ever make sense to you?

Google Sheets or any kind of spreadsheet will work just fine.

What kind of loan are you looking for?

I'm an IT Consulting guy by day & RE investor by night so getting into the details of all of the technology offerings, how they integrate, which capabilities overlap/don't, where integrated value sits, etc. exposes my nerdiness/love for this kind of stuff.

I could maybe sign up with that theory if the GPs were using the side hustle money as a way of cutting or eliminating their fees & salaries altogether while they try to hang in long enough to hope for enough rate cuts to refinance or the market to unfreeze and let them unload at least at break-even, but I bet none of them do anything of the kind. 

I've settled today with my family at a cozy and comfortable rental where we have power and water, and wanted to respond first to thank all of you for your responses -- I'm so grateful for the kind words and information.