@Sandy HuNumbers seem great from a NOI standpoint but I’d be cautious because covid could affect those numbers for 2020/21.

I want a professional management company to manage the property and I am cautious about purchasing in a bad area. 

While there are other properties operating in the legal grey zone, I'd be very cautious about investing a large sum of money on the assumption that the rules won't change against you.  

Enter into joint ventures "very cautiously".

But even then I'll definitely be more cautious and talk to lenders about my exit strategy before I leap into a deal.

You have to be extra cautious using airdna in an oceanfront situation, as it may/may not be pulling comps on the ocean

Should that house fall through, and I"m hooked on the guy from our initial meeting then moving forward I wouldn't mind paying a reasonable fee for a total renovation bid due to the last one not panning out....but again...first meeting...I think we are both checking each other out...for free.That's my opinion...but, I will go in with an open mind and I won't necessarily disqualify meeting/getting bid from a new contractor just because he charges a fee...but I will need to be cautious that I am not throwing $100 at a shady unlicensed uninsured GC or a handyman posing.

Yes you can do it yourself but I would be very cautious if this is the route you choose to go.

I'm really cautious with these but don't throw leads away.

This was a difficult concept for me to accept, as it contradicts most of what I know about personal finances.With that said, I believe you are correct to be cautious about being highly leveraged.