There's a lot of people who have an appetite for it and are successful but with that clientele the risk increases.

I will see if the water company has a way to put some kind of alert in place, to notify me of a future excessive water usage.

It is likely that you will end up with a policy in the Excess/Surplus Lines (Lloyds of London or similar). 

Really comes down to your appetite for risk. 1) Is the seller the original owner of the CFD?

My financial advisor is boutique and is connecting me to private lenders which sounds promising but who knows their appetite.

When it comes to the actual purchase, you might be able to {gradually} purchase shares of the business (depending on how it is set up and the appetite of the owners) rather than an all out purchase.  

Do I raise the rent and make $600 a month on passive income, keep the property and chance this home not appreciating much more bc of what's currently happening in Florida with excess amount of inventory sitting there?

While these companies can offer convenience, it's crucial to vet them thoroughly to avoid any unpleasant surprises like excessive fees. 

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.