There are a handful of gulf front complexes that still cash flow positively but you need to be very careful as to which complex you choose as not all complexes and especially HOA's are created or managed equally. 

For payroll, ask the seller for a staffing matrix, this lists each position working at the property and their salary. 

I'm saying you invest with appreciation on my mind, and make sure you're situating it to remain cash flow neutral to positive via other mechanism.

@Jonah Gunalda you fit the profile of a large segment of the passive investing community--someone who has a good income from something they are really good at, and would like exposure to real estate in their investment portfolio without distracting them from that very vocation that put them in the position to make such an investment in the first place.There probably isn't a "typical" profile of folks who do not and would not invest in syndications. 

Hey Quentin, It sounds like you’re in a solid position to start your real estate investment journey, especially with the equity you’ve built up in your home and your ability to handle renovations.

@Julian Martinez The good thing about your position is that if you decided to sell the property you can qualify for the 121 exclusion, and qualify for a 1031 exchange.

That’s a problem if trying to enforce a security position as a lender or Noteholder.You may gain control but economics will dictate structuring a deal to pay the problem spouse something as a “lovely parting gift.” 

I would recommend to look into something more powerful for business/corporate usage.Section C is not my expertise, but I would recommend to follow  the law and have strong security policy such as minimum password requirements and regular changes.To end this on a positive note, Cybersecurity is slowly moving to the forefront of business thinking and it's taken more seriously now than 10, 20 years ago.

Both are in held in the same LLC or your name, you'll be net cash flow positive and be owning the debt, equity, and hard asset at different ratios that's relatively strong for performance growth in the portfolio.

Here in Columbus, we're still seeing deals here that hit the 1% rule with positive cash flow and lots of potential for appreciation.