For example, the iconic Malibu waterfront homes were built directly over the water, many by variance, and assumedly will not be permitted to reconstruct, certainly not with the same materials or attached architecture.

Due to this water being behind levees the water stayed up for 4 months. 

The owner also needs to save for big ticket items that may need to be replaced every 10 or 20 years such as AC, hot water heater, furnace, roof.  

Quote from @Chris Seveney: @Charlene Kingsnorth have you had an sec attorney also review what you are doing as if you're are having multiple people as part of a loan participating in it depending on the state this could get you in hot water - so be careful  good point Chris some state allow fractionalized deed of Trust mortgages other do not or require PPM like documents prior to offering them..

One misstep and you could be in hot water. 

With that in mind, you'd also have to make sure the land you'd buy has water and electric running to it already.

I have no idea what performance of the first two funds has been like, and maybe they're blowing it out of the water, in which case they might partially justify a more expensive carry regime.

What is the speed of the internet, is it hot water (international property holders), is it AC.These basic clear descriptive items are great because if the price is fair and it clearly states the benefits.

@Edreco AmosMiami’s market can be tricky for cash flow since condo fees and insurance costs can eat into your profits, especially with newer buildings or those near the water.

After 5 months we had a bad water leak under the house.