Good payment history, slightly below market rent, but not bad.

With the average dock cost running $80,000 - $100,000 these days, it would be great pick up a dock below or within a 2 minute walk from your back door but anything longer than that may not appeal to renters that often. 

Some comments below:1) How much would I need for CC and inspections in addition to the 5%?

I never go below 8.34% (one months rent) for Vacancy in my analysis.Although you are showing decent Cash Flow ($695) and CCR (13.1%) you are not even close to meeting the desired result for a BRRRR strategy.  

The minimum openable area to the outdoors shall be 4 percent of the floor area being ventilated.Heat Source- RequirementsR303.9 Required heating.When the winter design temperature in Table R301.2(1) is below 60°F (16°C), every dwelling unit shall be provided with heating facilities capable of maintaining a minimum room temperature of 68°F (20°C) at a point 3 feet (914 mm) above the floor and 2 feet (610 mm) from exterior walls in all habitable rooms at the design temperature.

Many times people will use the filters on MLS to ensure they find pet friendly rentals and the person who listed the property did not check the proper box but listed no pets in the description causing confusion. 

The loans getting bundled into MBS, then split up, tranched, miss rated and then advertised as AAA when they were primary were BB and below was far more dangerous.

So here is the breakdown below.

I haven't done this, but I work in the construction industry and I think it would be very easy to build a foundation to a height, just below the frame, and then jack the home down to transfer the load to the new foundation. 

The owner of the condo directly below me for the past 3 months has been complaining to my tenant saying the noise is unbearable and is happening 24 hours a day and they cannot sleep.