When I get those losers I typically get them out in a day, 

If you have an issue with the way the landlord (you) has handled things your options are therapy or GET DOWN ON YOUR KNEES and pray.Your recitation of events reflect the owner acted in a timely manner and you failed to report the leak.

A lot of the time they're not recorded properly and it will make joining the HOA an option, not mandatory.

Typically I've been told that we should offer 70% of the home value minus any repairs and marketing fees.

As with most areas, the search for a vacation rental is typically dependent on permissibility of usages and the Oregon Coast is no exception when it comes to increasing barriers to entry of areas and properties that will allow nightly rentals. 

Have you considered the other options that could work for a family, ex. side by side duplex, house with ADU, house with carriage house, house with a walkout basement, etc?  

Hello Jonathan, I would definitely recommend the low money down option as long as it cashflows.

Hello - I am currently selling a 4 unit property and was approached about a Master NNN lease option deal on the property.

Option 1 and 2 involve either ground up construction or a space you're not familiar with.

I typically work with investors and have a couple agents I work with in which I can share their contact information with you if you have interest.