I've not covered everything but just given you a start. 

Before buying or renting in an unfamiliar neighborhood, you should check the following two sites: SpotCrime, AreaVibes,These sites provide valuable information, including Livability Scores, which cover aspects such as crime rates, employment, health, housing, schools, shopping, and more.well, anything can happen anywhere.

HOA is currently $172/month, with and additional $44 for club fees, covering club amenities, including a gym, boat lift, a restaurant etc. 

I’ve got enough to cover a roof and a furnace.none of this came from my pockets but tenants.

It's been covered extensively. 

Hopefully any regulations that get passed will be logical and not overly heavy handed (not holding my breath, but here's hoping).

It typically covers the structure under construction, materials, and equipment on-site, in transit, or stored elsewhere.

Covering this with my salary is relatively comfortable.  

How will the partnership cash flow cover the HELOC payments if interest rates increase?

Need a few units in same buildings and higher rents to cover expenses aka nice areas.