The plan is notorious for minimum insurance and they were previously capped at $20M for larger commercial and HOA properties.

Seemed commercial/industrial.

Some commercial lenders I've worked with have required the buyer to wet sign in the State, so they've had to fly in for the closing.

Aunt/Uncle have a property maintenance company in Brainerd that partners with my PM, Cousin works for the local commercial bank, things like that... 

You'll get a feel for the age of the neighborhoods, the vitality of the commercial buildings, the ease of location, the closeness to jobs.The markets you're describing are more linear, and usually have lower capital appreciation.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC (you can elect to have a LLC taxed, as a S Corporation which is a whole other conversation).If you want to close in the name of a LLC, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).

I'm currently building multiple new construction projects in Lee & Collier Counties, both commercial and residential.

A few comments from my perspective (and after reading @Dan H. comments):I agree with Dan, and view this as a negative cash flow property as well, given that more than 20% down was necessary to make it work with what I suspect is a non-commercial 30 year note given the interest rate. 

I'm not a lawyer, but I've consumed about 1000 hours about Wholesaling both commercial & residential, and none of what they do requires a license.

That is for true commercial properties and LENDERS do not look at value that way.