For Enclave, it seems that if we manage and post on Airbnb, our guests cannot use the water park/amenities. 

I would also look at the availability of public water and public sewer, if not at the site how far away are those services.

While Colorado's market can be challenging due to high prices, exploring suburbs like Colorado Springs or Pueblo, or even considering out-of-state markets in the Midwest or Southeast, can open up better cash flow opportunities.

Did nobody ever stop and say "oh, hey, maybe we should keep water pumps going because, ya know, no electricity no water pumping, NO WATER". 

I'm more familiar with STRs in Colorado Springs.

Otherwise, you may need to replace a water service (13-15k), electrical service (10-15k) and upgrade wiring (This is a tough one, but maybe an additional 8-15k inside).

.: Quote from @James Jefferson: Hi, I have a family member that had a reverse mortgage on their property it's a 3b 1b 1 acre of land heats by oil no hvac and on well water.

Spring and Tomball are a great market to check out as well.

I specialize in working with Canadians that own property down here (I live in Palm Springs, we might be the snowbird capital of the world?).

Can fix the water damage in the basement yourself.