Starting with remote investing, like in Charlotte, can be an option, but it might be worth exploring local opportunities in Orange County too.

However, by placing money in a property that I would like to have in order to increase my quality of life, that can also produce some cash flow instead of being a liability that requires money every month, I can increase my quality of life without increasing my monthly liabilities.  

@Hitanshu ShahDon’t expect to recover losses—it’s usually not worth the time or cost.

Greatly increased lending capital by transitioning from a ‘blind pool” fund to a series LLC / syndication model where investors know the property lending deal before committing to any loan and can “pick and choose” whichever loans they do or do not want to participate in.  

Throw in that you can dramatically increase the value of the property once you show consistent rent rolls much higher than when the space was used for LTR, and you have a big win. 

The homeowner collects a NET/NET 5% yield with 1% increases each year in long-term lease by a BBB+ credit rated tenant (similar to Morgan Stanley credit).

Higher assets or cash in the bank increases what is called you compensating factors which banks/lenders use to qualify.

Palm Coast, while not as flashy as Miami, is indeed growing rapidly, with increasing interest from higher-income professionals and retirees.

If you want to sell this property, you need to let someone inspect it at least once and the discount for due diligence needs to be worth it. 

Unless you're working with Private Money that is going to carry the risk of your lack of experience, banks want to see experience, Net Worth and liquidity after close to consider the terms.I started with single family, four plexes, and remodel flips for a lot of years before getting into larger deals.