Additionally, the beach is still within reach...just a short 1 hour flight or 6 hour drive.  

Feel free to private message me with any additional questions.

Finally, for simplicity, we'll assume that in every strategy the price (or ARV) of the property is $150k, that we're starting with $45k, that we can invest an additional $10k every year, and that we can use any remaining cash reserves to continue purchasing more properties. 

In general these are either growth markets or markets short housing that has significant hurdles to adding additional housing. 

You're also able to work with the utility company to install an additional meter.

Loss of use is foryour additional expenses if you can not live there due to a covered claim (ie.

Quote from @Tim Buckingham: @Jonathan Moody Good information but I'd like to add some additional points (note that your mileage will vary due to numerous variables). 

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

I’d recommend a consultation with an attorney specializing in these, in addition to an accountant.

Additionally, I would suggest you run some financial calculations such as cash on cash return as well as any appreciation from the asset if/when you sell.