Most of the time a condo/townhome won't be the right fit due to condo fees, hoa fees, etc that make it more costly for the ownership but also more management intensive.

Sounds like some of the folks on here are under playing the true status of the SWFL market...

You'll have to pay rent regardless, so you need to consider that you would already have that expense, along with the fact that you'll get the benefits of principal paydown and asset appreciation (especially by leveraging).Acquire the asset and perhaps focus on something you can add value to, then you'll have a 100-200K equity chunk to play with in a few years when the market accelerates again.

If you told him you have been playing pickup games for the past year and need help improving your jump shot, now he has evidence you're motivated and a specific goal he can quickly help you work towards.

The high HOA fees plus taxes plus wear and tear and the intense Airbnb competition (tons of units) in Miami make it difficult.

When was the last time you have seen a RE syndication offer without an appreciation play?  

He played dumb, telling me he told me from the get go that the initial inspection was all we were getting.I would have never taken the deal if that were the case!

If your network likes the pure equity play, you should offer that.With the "debt" financing, are you planning on using this as your mortgage, with no "traditional" mortgage ahead of it?  

You can build that career around your salon business if need be.I would potentially put a pause on the real estate investing, because it can be very capital intensive and I would not want you to be in a difficult situation immediately on your first investment. 

I chose to mention grad school because it plays a big decision in my first option as well.