I'm getting a contractor/ structural engineer to come by and help me draw estimates and understand how serious these issues are.

A bit strange that you leased the commercial spaces knowing you would be pursuing a conversion but understand the objective of taking out your capital partner and I see in your follow up post the relocation language so you clearly thought through the transitional phase.

Seems like the few people I talked to that are selling land in Florida are trying to sell it above retail without understanding that most of their potential buyers are going to be builders. do Not buy land in FLA without doing full due diligence  on all aspects . there are environmental gotchas that you need to fully suss out prior to waiving due diligence

Lots of money made here, but lots of money also gets lost here by out of state investors who don't understand what it is that they are buying.

I haven't reviewed the Standard Lease Agreement yet, but all I need is the right to sublet, and possibly some negotiated capital responsibilities (owner pays for repairs over a certain amount or split responsibilities on certain expenses).

From my understanding they filed for Chapter 11, that would protect them from any creditor action, any foreclosure, etc.

I don’t understand why people do syndications  We can make more money using lenders.  

I’m self managing myself but the tax side of it is a little confusing to me but I’m recording everything involved as far as maintenance, traveling, expenses etc. just want to know what some people would do in my situation or what to I can benefit from come tax season  @Angelo LlamasI recommend that you find a real estate accountant to help you understand and prepare your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

Can be a good strategy, but my understanding is BRRRR is generally dependent on refinancing and pulling back that cash invested to repeat the next one

I understand as someone new to real estate investing there is a lot to learn and even though I have read many books, until I do it myself for a few years, I will be far from an expert.