Hope this helps in some fashion. 

I love to hear that you are doing things the right way as painful as it might be...karma will come back around whether its on this deal or the many more ahead of you.Typically you need to get an architect and contractor involved to address your code violations...I am sure @Prashanth Mahakali or @Samuel Pavlovcik can help you on the architect side.We are helping @Mark Ainley in a similar fashion with some code violations.

I know the Atlantic is colder, bigger waves, etc. sand a little browner, but it sounds like an "old fashioned beach town" with a pier, and you can walk for miles on the beach which is in our top 5 "most important" qualities.

There was a time no one wanted to live in Hialeah, Little Havana, what is now the Fashion District, Coconut Grove and even along Biscayne Blvd, especially in front of AA Arena.  

As Dave mentioned, suspended PALs don't directly offset capital gain from the sale of a rental property by way of netting the capital gain to zero; rather, they are reported separately but in an offsetting fashion.

Hey AdamIf you build the right Core 4 team and find good deals that meet the 1% rule I believe "buy and hold" could be a good way to grow your wealth in a safer fashion.

I have not had any trouble with them yet although my HVAC guy says he thinks the old fashion ones are better and less of a headache.

I want to buy properties where I can fashion the calculations to reduce principle and own the asset free and clear in the shortest time possible.  

Some people just prefer the old fashioned way so you don’t want to shut the door on that. 

For example from noticing my own weakness in this business is (1) collecting rent in a timely fashion and (2) interview/screen/and show tenants the units.