Additionally, if there are any contractors in the Fort Lauderdale area who can provide an estimate or guidance on this type of conversion, I’d really appreciate the connection!

Has anyone had bad experiences with using this type of lending?

Going DIY and self-managing this type of asset from another state may not be an easy task for such a building and neighborhood, it needs more attention (and probably capital).Try an unconventional approach.

Often this type of connect is well worth the money, if real life experience is the same as advertised. 

Here is a great resource. https://www.areavibes.com/They give you a total livability score and you can type any address in 

Spending on expensive upgrades is not the answer to improve your tenant base in this type of area.Keep the homes habitable, clean, and safe. 

Are there many REITs that currently regularly engage in this type of feeder based structuring for a investors?

I think in the future you'll see businesses supplying this type of accommodation for their workers. 

What type of property are you most interested in house hacking and what is your price point?

Other types of sellers that are making deals easier to get done are those with assumable debt available, and sellers with the ability to seller finance there properties.