The property offered a balanced investment opportunity—enough to significantly enhance its value through renovations, yet manageable in scope and cost.

I am curious to learn from others as well  :) I looked at GHL for my CRM but felt like it was full of features I'd probably never use and the cost was considerably more than what I ended up using: Monday.com.

You didn't mention the higher Florida insurance costs. 

I manage 400 rentals and the most significant claim ever filed was a kitchen fire that cost $20,000.

Get replacement cost hazard insurance along with an umbrella policy of at least $1M, probably double in your area.

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

It was mostly due to my day job income and low cost of living over a long period of time; however, real estate accounts for about 50% of our income through a small portfolio of short, mid, and long term rentals. 

The property offered a balanced investment opportunity—enough to significantly enhance its value through renovations, yet manageable in scope and cost.

More units usually is better, but costs more.

So either you pay for the repair out of the idle cash in your account, file an insurance claim and use those funds, or rollover/transfer funds from another retirement account to cover the cost.