Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

If you want passive just invest in VNQ and withdraw x% in addition to the dividend vs getting pure distributions from a private reit, much safer. 

(or drink too much)  ;)

There are more factors than just pure cashflow and it seems like you are in a good position to be successful.  

As a local investor, I always recommend starting where you live—it gives you a better grasp of the market and makes management easier.From a purely numbers perspective, investing in a high-cost coastal market like San Diego has allowed me to grow my wealth far more quickly than I ever could in the Midwest.

Basically, from what I've seen (and this is purely anecdotal), they're not really going to go out past one, maybe two miles, unless there simply is no truly comparable property.

Also, they are purely a capital investor then they won't want to do the work and merely want to have faith in their ROI

I have nightstands with glass tops so there are no rings from drinking glasses.

At this stage I do not know if responsibility for necessary termite infestation treatment is determined purely by the articles of association and other incorporation documents of the HOA or are the HOA directors in direct breach of any Broward County, Florida State or Federal laws in not doing anything about the ( apparently widespread ) termite problem in the community ?

It's like drinking through a fire hose on steroids.