To my surprise it was not that bad and just needed cosmetic upgrading to make it stand out.  

I know many people here stick to the whole 1% rule when it comes to rental income and this property stands at 1.36% but my mentor and investors in my circle only go for home run deals that get as close as possible to 2% in rental income. 

REACT ProgramIt stands for reverse engineering assignment of contract and terms.It was coined and started by Jon and Stephanie Ianotti,who are real estate investors on the east coast.Their program has a'no refund' policy and unfortunately I've had begun to learn why they don't want to give the money back.Because I've realized, I've bought courses for 1/10 the price and received a better return on my investment.

I am determined to find a way to make this project work and it surely does if all units are sold off independently BUT from a rental stand point I am seeing that cost of construction, plans, permits, city fees, and the dirt itself - this may not work. 

It is a commercial enterprise and will stand separately from you, the owner.

Tourists love to visit and the ultra wealthy will be the last standing that own property.

I'm guessing the Realtor contract uses CFD because it's generally perceived to be safer for the seller from the stand point of getting the property back in case of a default.  

No one can tell you what to do but just remember from a legal stand point you may put yourself at risk and make yourself legally liable as well as be subject to all state and federal employment laws, regulations, and rules.

You want to confirm with the owner that they are in good standing with their portion of the rent.

If they advise you one way or another and this gets challenged, do they stand by their advise and back you or are you on your own?