You could also consider other alternative construction methods such as prefabricated buildings or tiny homes.Ultimately, the best option for you will depend on your financial situation, goals for the property, and level of risk you are comfortable with.

Also, I've of the camp that LLC's and expecially anonymity in many situations is overrated...And, if you are investing in FL, then you'll need realtor licensed in FL. 

Those premium hikes have caused a lot of investors to sell and when there is scared or stressed sellers it can cause a value drop to the market.

. - sorry to hear about your situation, that's tough man. 

I have another situation. 

I'm newer to this area (from Colorado) and looking to talk to some professionals in this situation.

I am looking for advice on what people may have done/wish they had done in a similar situation.   

It’s very likely that you’ll end up in a cash-for-keys situation.

What are suggestions on how to deal with this situation?

The situation is particularly critical as the Upper Peninsula has upcoming projects, such as the opening of Copper Peak, set to boost tourism, and the launch of copper mines.