I used to be the person doing the education side of it for years.  

I was talking to the guy that found me the deal and he said it has a Federal Pacific electrical panel and he's saying I'll have to rip out all the sheetrock and redo the wiring in the house as well as the plumbing because it has galvanized pipes.

I personally have to be really convinced to buy anything beachfront -- the risks are often not worth it. 

I am in the process of closing on a house in WPB and will likely need a handy man by mid / late October.

,This situation might be very specific but I am needing help solving this issue.I have someone who would like to sell me their Airbnb House they currently have it under a VA Loan with the Local housing authority. it is assumable but would require me to put more down and would limit their use of the VA Loan until i refinance out of it.the Local Housing authority has been calling mortgages due to anyone they find that are owner financing homes while still having an active mortgage from them on. 

Houses currently run between $80-100/sqft, depending on location (duh).  

So, you should go on site to evaluate and I would negotiate in person and try to settle everything.

I haven't heard of this person before either and while some paid courses can be good, I too am a skeptic of them often times.

What is $275/m in rent roll going to do for you in the long run on a $70,000 house?

The IRS distinguishes between rental property and personal-use property.