The subject property is on a beautiful half acre and already has a patio.  

Unless they are asking for a commission amount that is out of the ordinary just pay it and get the lease signed before something changes.   

I’m currently trying to decide between two 3 bedroom units (one is roof top with gulf views and boat slip, other is ground floor with direct access to pool and big patio) , or a one bedroom in the same building that’s also roof top with gulf views (I believe sandpiper).

Then there is one on the wall to the left of it, which I hate opening since it opens to the patio of my neighbors apartment where she keeps 5 little dogs, so opening it only fills the hot living room with the smell of dog urine.

With a fund some can offer tax preferred treatment such as dividend vs ordinary income so it’s something to review not just gross but net returnsThere is no right or wrong answer to this, it’s truly a preference and how comfortable you are with each type of investment

Recommendations include moving the patio away from the house and adding a retaining wall.Other considerations:I already have a team in place locally to manage the property and handle repairsI visit the area biannuallyThere’s another couple interested in the property and supposedly making an offer.I haven’t secured preapproval for a loan yetMy credit union only services Oregon/Washington, so I can’t use them for a loanI’m unsure about the process of buying an investment property from out of state, as a first time home buyer, especially since I don’t plan to live in the property myselfWhat I’d like to know:Does this seem like a solid investment opportunity?

For questions #3 and #4, you need to have a reasonable and ordinary expense for doing this, and you would likely need to track usage. 

I have several patio homes in Houston with room to add more. 

What you're proposing is the conversion of ordinary income subject to SE taxes into deferred capital gain, OR potential exclusion of the income all-together under IRC Sec 121 if the property is to be your residence.I've seen no reasonable basis for such a position.

The property has great amenities including central heat and air, pet friendly, washer/dryer, great backyard + patio, an upgraded kitchen and bathroom, and upscale furnishings.