If it was my thing, ever high was in like new condition, and it fit the theme I was going for maybe I’d pay $5-$10k more for it to be setup?

I would also suggest doing what you can with your skill set.For example, you could create a video course about XYZ, the only that you know that you can teach someone.

It is very high chance that I will be negative cash flow due to increase property insurance and HOA. 

That will give you a sense of vacancy.Every property is different so 10% for CapEx might be high or you can redo some of the major systems upfront in order to lower that percentage.How much is a gardener there?

I think the price is too high, but it works perfectly and doesn't require much thought.

I have attached a video link for reference.

Unsuccessful Property Search: Hours spent on unsuccessful property searches, where no purchase is made, do not qualify.On-Call Periods: Instances where you are on-call but do not actively perform work do not count towards material participation.Meeting Requirements:Maintain Detailed Records: Keep accurate time logs and records documenting your involvement in material participation activities, supported by evidence such as emails and calendar appointments.Seek Professional Guidance: Collaborate with a qualified tax professional to ensure compliance with IRS regulations and to optimize your material participation strategy.I hope this high-level overview gives you insight into what activities matter and ones that do not.

The lot is 3x the size of the other option and the home has very high potential for value add.

We highly recommend though, having a local expert that you can run addresses by, to confirm the target property in on a good block before signing a purchase contract.

Some believe in cash flow later down the road by buying class A/B in high appreciation areas.