Thanks in advance for your help!

I have no prior experience in real estate, however, am fortunately enough to have access to sources of income besides a fixed job salary that provides me additional CF and a long-term safety net.

There are also always TCs in the market willing to help inside of most brokerages communication portals.

The 50% rule is not perfectly accurate, but if your underwriting differs significantly from the 50% rule (which it does in this case), be sure you can justify the discrepancy.  

No and you need to put this on hold and research the condo nuke that's about to hit Florida in the form of new legislation that no longer allows condo boards to defer necessary repairs. 

How can the community help you?  

This is the family business. 

While this is a good question, the answer is absolutely location specific.  

Their intention was to take possession of the property by end of this week.

This is not tax advice, only what I do.