I can easily construct a scenario where the PM did absolutely nothing wrong despite your current perception.

Your best bet is likely going to be trying to figure out some sort of seller-financing, or bring on a partner to the deal that can supply the additional cash. 

With $20k your best bet is to house hack a duplex in one of those areas.

You bet!

Ironically, in line with your interest in Galveston, I am about halfway through constructing a beach home there (Beachside Village), which I plan to use as an STR / vacation rental.

These tenants are so big that obviously you aren't going to get a personal guarantee out of them, but they're also such a safe bet that it's not seen as a big deal.In the smaller range of 3-5 year leases and small businesses, you don't see a lot of NNN, and you see more personal guarantees for the first term of the lease.

My husband has become extremely stressed and disheartened by the situation, to the point where he no longer wants to work with this partner or on the property.The property is divided into two units: the main unit is nearly complete, but the mother-in-law unit is still under construction.

New construction?  

My criteria is as follows:1- Primary goal is appreciation over the next 5/6 years, cashflow positive preferred but cashflow neutral at a min.2- Preferred portfolio - Duplex & SFH in TX or Duplex each in TX and FL.3- Area of interest - I-35 corridor by Austin TX and Cape Coral/Lehigh Acres FL.4- Focus is on new construction properties for obvious no immediate maintenance needs and Developer incentives on interest.I know Austin is a no brainer but I would like to get your expert opinion on Cape Coral/Lehigh acres FL area.

Could someone clarify how a cash out refinance would work after new construction.