Both told me the apartment floods so bad amongst other issues.

A grand negative cash flow is not the issue.

For example, to get up-to-date property tax data you would need to scrape every county's tax data website (thousands of different websites, data formats, issues, etc...) then aggregate and clean the data.

I'm wondering if that might be less of an issue for something more rustic and temporarily occupied like camping/RV.Any one have any thoughts, parallel experiences, or other basis for insight? 

Most of our water pipes are in the ceiling here and when one breaks it ruins the floor, plus we have had some flooding and other issues in FL.

For big BRRRR projects, hiring a project manager or having boots on the ground can be worth the investment to keep GCs on track and catch issues early.I’ve had OOS clients who’ve been successful both ways—some met their GCs in person and others didn’t.

Based on your numbers, and assuming you have a credit score high enough and have never filed for BK, you shouldn't have an issue getting approved for an HML to buy/rehab the property that I would estimate at about $370k-$375k (which includes 100% of the rehab costs).

I have had no issues finding renters for our units and have have minimal turnover.

Ordinarily those tenant vacated damages would be too remote, but it sounds like they were contemplated by both parties at the time of contract.Were I in this situation I would be looking to state law to determine if the EMD is truly the extent of my potential liability as a buyer. 

While they may or may not be professionally managed, Class C properties will have some deferred maintenance issues and need renovations and upgrades.