Some agents will not take less than 3% no matter what, others will adjust based on the deal. 

That's a big deal, and should provide encouragement to others who are on that path. 

They find deals on oceanfront houses all over the country.I'd even look for a fixer upper to get a great deal.

Creative financing: Explore seller financing or subject-to deals for your next property, which often require less upfront cash and bypass traditional lending limits.You’re on the right track thinking long-term—house hacking and leveraging your duplex are great moves.

I want a spreadsheet that will track my returns over the lifetime of the deal.

What made you interested in investing in this type of deal?

If anything goes wrong, the entire deal comes crashing down.

In your case, you are probably better off buying a break-even deal in Tampa then a deal with $200 cash flow OOS.

And you will keep missing deals if you don't take action.

Personally I would not take a negative cash flow deal.