That would be ASSUMING the debt.  

I am assuming short-term rentals would be legal in the municipality.

Assuming your friend has a contract with the management company it sounds like (s)he may be in breach of that and could possibly be sued for damages.

I'm assuming at this price you are buying one of the 2-acre parcels where the subdivision is not yet complete.

I assume if the CC is successful the return will be slightly better than that? 

Assuming you are in Greenville county you can use this estimator.https://www.greenvillecounty.org/appsas400/RealPropertyTaxEs...

Assuming identical properties, a 3/2 in Largo FL 2 miles from beach with no pool or hot tub: $50,000 a year. 

If you are looking for a more laid back and roundtable type discussion of all things real estate, you are more than welcome to join us every Tuesday morning on Zoom or Thursday morning at Kairos Coffee where we discuss everything from assumable loans, to creative buying strategies, to landlord tenant laws and pretty much everything in between! 

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

Maryland has more likely (but still long shot) criteria.But, it is not safe to assume you won't be sued since the US has about 30 million civil lawsuits pending as I type this.And, it is against public policy to insure intentional torts.