@Christopher Phillips - Thank you so much for your encouraging reply.

That 223/month is going to evaporate in a hurry.

This is my exit strategy from my other job and into retirement.I thought it might be encouraging to hear from someone else in Florida who is doing the same thing you hope to do.

@Dave Foster thanks for the encouragement brother!

I would encourage anyone even seeking information about potential projects to visit in person and not be dissuaded by horror stories about the process.Thanks to @Michaela G. and @Rick Baggenstoss for their helpful advice!

I am glad I made the switch, but now I am moving on to other segments in the commercial real estate market after being encouraged by my investor partners to do so. 

@Anne Williams As you've already been encouraged to do, even though this is not an investment property per se, it is still a large investment for you and you should try to get a good deal not just overpay because your agent tells you to.Appraisals are not the subjective 3rd-party valuation your agent is pretending they are.

It's not like $630 a month is evaporating. 

Thanks for the encouraging response.

I encourage you to ignore the naysayers like @Josh Stack said and drive forward understanding that yes, while you are taking a risk, it is a calculated risk and one based off knowledge you've gained via someone who is actively and successfully doing this type of investing.