People and jobs are leaving those markets.

I'm wondering how folks estimate CapEx, maintenance/repairs, and turnover costs?

Plenty of people out there have the money for deals, but the lack the time and energy to FIND them.

Considering how much I enjoy meeting new people and communicating, the STR approach has been successful and enjoyable Now we are pursuing our second investment property and are considering a property which needs some TLC and has large value added potential, considering that its in a prime location on the oceanfront.

The steps to flipping is fairly straightforward, executing and the logistics is where a lot of people fail. 

I'll add some data:1) If you were calling the phone book (lowest converting list imaginable), you will find a potential homeseller by talking to 20-30 people.

I think people would enjoy it with other amenities.

It's great in terms of location, but the main issue that I have is that there is no public trashcan for the bus stop.This means that people are constantly littering around my property, and I am forced to pick up all of their trash.

You will likely receive some credit towards the value but not as much as most people think. 

you've come to the right place - lots of great people and resources here