I flew there and walked the house, looked pretty turnkey rental grade): $1029 GFCI outlets, downspouts and guards, drywall, paint, bathroom vent$4615 (new AC unit since unit was stolen before tenant moved in, didn't file insurance claim because didn't want my premium to go up) $600 (water line, gas line, P trap)$60 lawn mowing$112  thermostat repairMy opinion is that Class C is better for local investors who are on site and know how to do repairs and self manage.

The current owner is letting me take over the property as a tenant as long as I pay the water bill and the mortgage payment on it and whenever I decide I can purchase property for the balance of the mortgage  they are in no hurry for me to purchase the home as long as the mortgage is paid. 

So, if your property has all bills paid by the tenant, you will deduct from the voucher amount the set amount by bedroom count for items like water, electric, gas, etc.

- Do you want an ocean view, or is proximity to the water or to resort amenities like fine dining or shops most important?

And I did buy 13 lot package in Henry county but it was all sewer and water.. smokin deal 3k a lot held them 2 years and sold for 35k a lot :)@Jay Hinrichs excellent advice - always appreciate your insight!

When looking into it, the basement had water damage that didn't worry us since we knew how to remodel that area ourselves.

Think on it, how much does $250mnth buy for a furnace, a/c, water heater, carpets, really any reno at all?

Sounds like you stopped water which is most important.

From what I've seen, the days of the $1,000 and $2,500 deductibles for fire, lightening, water damage (not flood), etc. are becoming harder and harder to find. 

I know it can feel like uncharted waters at first.