.), security (cameras, noise detection, security policies, etc), cleaning and upkeep would be provided by me and my company for the duration of the lease.

Hope you know your new partner very well and know that he will not try to make you pay for all the upkeep out of your end of the deal.Tim

It's worth it's weight in pure gold.

You certainly don’t want to walk on wood with nails and such so if you do need to do the flooring earlier than typical, simply cover them with heavy weight red rosin paper to protect them.

The HOA fees I currently enjoy are somewhat reasonable (<$200), but a necessary evil for upkeep.

v=RJxg6FgZPvYIt seems to boil down to making sure you have all GP responsibilities clearly documented, and making sure that everyone is pulling their weight across the entire project, not just raising money, which is not permitted. 

I'd also verify that with a final walk-through a couple of hours before closing.I'm assuming that there is no such clause in the P&S, but if there is, I think you can sue for specific performance/breach of contract.Not to rub salt in the wound, but this is a perfect example of where a good buyer's agent is worth his weight in gold.  

Neighborhoods become bad when property owners don't care, don't invest, don't upkeep, don't screen.

Heat pumps and ACs will rust out much faster, painted surfaces won’t last as long, so upkeep will be more than a house inland. 

For one, this is an aged property so you're going to have a lot of moving parts as far as maintenance and upkeep (things that even seasoned REI professionals might have a hard time with).