The danger of this, unless you have A class tenants, is that the current tenant may not be willing to leave at the end of the lease and now you have an occupant, and a signed lease with a new tenant!

The facts are all pointing to the deal being dangerously thin at this price. 

I pretty much may have to go the untraditional way to get funding, I do not want to, the rates are explosive!

Inside the hatch was an old crate labeled “explosives“, and inside the crate was a small one gallon bootleg whiskey barrel.

Just because you never experienced something that is quiet real and possibly very dangerous depending on what type of entity you’re dealing with doesn’t mean it doesn’t exist. 

People don't usually put up a "Beware of Dog" sign for no reason...they either think there's a potential for a bite - thinking that posting a sign will ease their liability in case of a bite, or animal control has mandated they must have the sign up (usually more than 1 though - here in Wilmington, you must have 4 in plain view) in the case of an animal being deemed potentially dangerous....also they told you outright they are planning on breaking your lease by half a year....may want to get the ball rolling on these folks.  

I'm not investing, retired, but if I were, I would keep my powder dry for now.The other danger is relying on 2 high paying W2 jobs.

Comming out of school we think we now know everything, but in reality, we know just enough to be really dangerous.

That would increase the cash available for the all-cash investment and eliminate, I think, any danger of mortgage boot. 

That is going to push the 'danger zone' of hurricane damage further inland and leave beachfront even more vulnerable.