Being involved in the area as an agent puts me infront of a lot of people who want to sell their properties for way under market value, but I can only handle a limited amount with my own funds/time.Anyways, feel free to PM or comment if you might be interested in meeting up!

Maybe it's a dumb question, but just trying to understand the pros and cons of each.Thanks in advance for any advice/guidance on this!

Understanding lending and products available can help generate tax-free cash, repeatedly.

Thus, I understand your objective on Bigger Pockets is not to learn more about REI or to help others on BP. 

My town is quickly becoming a tourist destination and some people who prefer that it remain a quaint, sleepy little beach and surf town, are selling to move to more remote locations. 

He is nervous he may scare the tenants which to an extent I understand, but all his tenants are paying far less than market rent as it is.

Here's why this is so important for negotiation and decision-making.First, understand the seller's professionalism and sophistication.

You need the right team of people to get things done. 

I didn't get a lot of water and it was all manageable by the tenants, but given this happened I want to try to understand the reason and where to look (e.g., do I need to install a new/ better sump pump). 

But if you want access to the benefits that people like me have contributed to, and collectively spent decades and god knows how many millions of dollars building, why would you think you should get access to those items for free?