For example, many elderly individuals purchase condos in Florida to retire.

@Jami KloetHi Jami,We are still only semi-retired.

The town treats it as a commercial lodging property so it's exempt from heavy-handed local STR restrictions.The sellers have been open for biz only part time in their retirement.  

2018 landlord is highly unlikely to remember her or have records.How stable is her employment -> income?

Earlier this year we decided to sell it for the reason I gave earlier, I'm semi retired and have time to be hands on, thereby making a better ROI.

Plus, older properties in established neighborhoods often have more stable appreciation over time.On the other hand, the new development, though slightly more expensive, might offer modern amenities, energy efficiency, and potentially lower maintenance costs.

May sell another 11 units that's around a 10 cap rate because I'm retiring. 

I'm thinking of this rental and rental management business as a way for me to retire in the future and possibly grow it, especially if I leave or no longer have the W2 job.I'll list below some questions I have, but feel free to give me any advice and educate me about what I should be aware of. 1.

You work a stable job and make $5K a month.   

If not, then I think a one off syndication may be easier to pull off.Option one looks about what the market is showing.Option two is more for a specific investor looking for retirement/yield/stability.