I understand that a lot will depend on the specifics.

Demonstrating your knowledge and experience can be very persuasive.Be Specific About Your Needs and Offer: Clearly outline what you are looking for in a partner and what you can offer them.

We own in Florida, but we do not own in the keys and I was hoping to get some more nuanced feedback than what I've seen in older posts (something more than "follow the law, get STR license" etc).Specifically, in the lower keys (Summerland to Key West):- how important do you find private dockage to be to 28 day "STR" guests?

It is very fact pattern and venue specific. 

However after all the work thats required which includes landscape, parking lot, fencing lighting and interior/exterior work, it looks like the presumed cost of remodeling it will be double that, although Im not positive (still taking bids).Ive priced a comparable property in our area which has similar square footage and lot size and they seem to be going between $700-800k, and so my question is: based on a higher than expected construction cost which is necessary to finish our project, one which will exceed the amount of money of what a similar property goes for in our neighbrhood, should I continue with this project, or an alternative plan would be to simply beautify it for approximately 100-150k and ditch the plans, and flip it instead for approximately 700-800k now that its zoned commercial.My fear is that if I do invest the moneys to finish the project over the budget I initially priced it for, and the business doesnt take off, I would initially lose money on this investment.Thank you for taking the time reading this.

If you are interested in a specific property, you can start by contacting your agent and communicating your interest to them.

However, you missed the specifics of the question: it was not about just rental losses, but losses transferred to you via K-1 as a passive investor in a syndication.

I really appreciate the community here and have learned so much just reviewing old posts and searching on specific questions and topics.

@Zane M.The scenario you mentioned brings up legal and ethical issues, particularly in terms of occupancy requirements for specific loan programs and the possibility of misrepresenting intentions.

We have a program that will go up to 80% that is state specific.