@Greg Strunak If you're looking to purchase a condo in the Myrtle Beach market I highly encourage you to align yourself with an investor-friendly agent who is experienced in dealing with oceanfront vacation property. 

Now, I would encourage you to buy properties that net SOMETHING...but there are other options for you out there.  

Appreciate the encouraging words.Chris

I appreciate the encouragement and advice 

Thanks for all the encouragement guys.

Once you feel comfortable, I would encourage you to jump in and get started.

I just want to weigh my options and be pragmatic about my next step.I agree that Option #2 has the highest risk, and honestly would be the biggest headache.I would encourage to consider the Opportunity Cost, that I have not heard/seen in consideration as of yet. 

I would definitely encourage you to minimize some of the elevation changes, it is going to get expensive quickly they way you have it shown.

Definitely an opportunity but if you don’t currently have much in reserves and won’t have positive cashflow early on, strongly encourage using your inspection contingency to address these items or provide funds for future corrections.

I wish you well on your investing adventure and encourage you to get in touch if you need help or have any more questions!