As I reside in Palm Bay, Florida, approximately three hours away from the property in Jacksonville, Florida, I'd be forever grateful for any recommendations for local professionals who can bring my vision to life.

As far as benefit to the seller goes, @Matthew Paul I think you are probably right on the money and regardless of whether they would have preferred to stay in this house rather than move, it is likely providing them some excellent cash flow; and I'd be hard-pressed to come up with a deal that serves both parties better than the current situation. 

However, if you're a W2 high income earner or business owner, I can't imagine it makes any sense to flip houses, mail mass post cards, wholesale, or build lead gen websites with the value of your time being better spent other places (such as learning about real estate and increasing your income through proven means), such as at your 9-5pm or growing your business, and your real estate is a long term process and you don't need "home run" deals to qualify or make it work.

David, this deal could work, but I’d want to dig into a few things first. 80% occupancy with long-term tenants is solid, but what happens if a major tenant leaves?

I’d love to learn from your successes (and challenges) as we continue to refine our approach.Looking forward to your insights and feedback!

I'd like to join.

I'd be heavily focused on mitigating that future tax liabilty rather than directly supplementing that income.

I’d love to connect.

We're in Ithaca now but I'd be happy to connect with you. 

@Keith Angell I'd say you are on the right track with the HELOC.