To add value to the property, we undertook extensive renovations including the removal of over 40 yards of trash, installation of a new septic system and wall-hung boiler, and a new well pump.

@Cristen Marcotte Well, my last post doesn't help you much.

So to clarify, you CANNOT live in a DSCR property as DSCR is business purpose only and that is not allowed.  5-10 units can also qualify for 30 year fixed DSCR loans as well. 

For your situation, it sounds like a seller financing purchase could be a good fit as well but this would also have limited options and the terms wouldnt likely be great.

To combat this: market the property well, be transparent, secure a great flood insurance rate so a buyer can know the cost and be able to transfer the policy.5) no flood zone AE does nothing to rental rates6) if the insurance rate seems high then get a flood cert and maybe it will decrease.

I’m committed to keeping my options open and continuing to learn about being a landlord to ensure I’m well-prepared for my first purchase.To improve my ability to analyze deals, I’ve developed a two-part plan:Join a local BP meet-up group to discuss my goals and support others.Continue learning and engaging with the BP forum.Thank you again for your guidance—it’s truly appreciated!

You don't have to spend a fortune and buy a house directly on the beach to do well, but your starting price point for a viable option in this market is around $350-$450k for a solid 2-3 bedroom oceanfront condo or around $500k for a 3-4 bedroom house within walking distance of the beach. 

I wish you well in your project. 

I've been reading a ton here as well and am learning every day.

*I know the markets really well even better than some local agents.