But you could always lease to own; that way, you control the property and do not need to worry about a foreclosure. 

There's rent control, rent increases, rent regulations, etc.

Are coastal areas still good investments, and what are some ways to help mitigate these cash flow risks that are mostly out of our control (in my opinion)?

As one whom does mortgages for a living (and is a bit of an anal control freak with such things) I expected professional courtesy of being a little more transparent with the UW and Title items going on in the background.  

And right now rates are at multi-decade highs after a rapid run up, so the wounds are not only fresh, but the bleeding hasn’t been controlled yet.Mistaken Identity:  If the syndicator on the panel says he prefers floating because he can borrow capital improvement funds, he is talking about bridge debt, which happens to have a floating rate but isn’t the primary characteristic nor the reason people use it.  

I currently work full-time, raising 2 kids with my husband, with the dream that I can quit my job one day and take control of my time and future.

Heck- this legislative session, the state just passed a law stating that no city can pass any laws regarding rent controls or limiting the fees that a landlord can charge.

Your transaction would be suspicious to the point where my compliance group might make me file a S.A.R (Suspicious Activity Report).I have to fill out an O.F.A.C. report (Office of Foreign Asset Control) on EVERY bank reo sale.

Did you have separate electrical and AC/heating controls on both sides?

I would add that investing in real estate syndications is putting your money in long-term, illiquid investments where you have zero control.