For every ONE PERCENT that cap rates move against BAM they have to improve NOI by $6,000,000 just to BREAK EVEN on the property value.

First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

Over the past 6 months I have been really researching and devoting myself to self improvement and learning.

Improve the property2.

This could improve your margins.Occupancy Rate: A 60% occupancy rate seems low for Jax Beach, but that is a reasonable conservative baseline. 

Buying for $40K and selling for $80K with no improvements doesn't make any sense.

Full stop.An investor can buy undervalued RE, do efficient improvements and create massive value. 

The best you can do research your market, improve personal budgeting, improve credit, and get your dollars working for you.

The quality I can improve but once the limbs have hit 1 inch the value is impaired moving from A to B or lower quality.I’ll process logs, rough sawn, kiln dry, planed.  

We often give owners advice before the turnover letting them know that if we turned over the tenant, how we could improve the property, at what cost, and what the rents would improve to.