Licensed with permits ~$4,000.Full replacement of all water supply lines and shutoffs from the interior water meter with PEX and an open basement.  1 kitchen 1 bath 1 laundry. 

If I am reading correctly, they are simply supplying the money for the partnership. 

Is the property under a high tension power line or down wind from the horse rendering factory or on a main thoroughfare or some other obstruction that you wouldn't want to live near?

What’s your main focus, or what are you hoping to get out of your journey here?

On the other hand, I feel one of the main advantages of passive investments (via syndication/crowdfunding) is that I can hire a manager who has years more experience than I can ever hope to obtain myself.

In FL flood is typically the main cause along the coast.

Age isn't the main factor here.  

Due to inflation and the drastic increases in material, labor, and supplies, that's naturally caused carriers to rethink limits/values on file. 

But it’s clear you’re a smart investor who knows the long-term benefits real estate can bring.I keep reminding myself why I stick with real estate: you can make money every month in four different ways:Cash Flow – Passive income to live on.Appreciation – Long-term property value growth.Depreciation – Tax benefits that reduce your taxable income.Tenants Paying Down the Mortgage – Even if you’re paid off now, this is one of the biggest wealth-building tools for leveraged properties.It sounds like your main struggle is the stress of active management—and trust me, you’re not alone.

For me, it was live in flips, short term rentals, mid term rentals, good income with a solid savings rate, buying after tax index funds, paying off the primary house, driving old cars, moving a lower cost of living area (from Houston to small town Maine), and selling a business to push me over the top.