This last questions sounds area specific.

Also, effective online rental advertisement venues besides Zillow aptartment.com and Facebook. 

From other responses I have gotten outside of BP it sounds like NOI would normally be underwritten with the included expense of a onsite manager.

The net operating income (all expenses + taxes + insurance) of 12k sounds about right if this is an all-cash deal, but if financing is required, which is 25% down + CapEx, that beautiful 12k operating income shrinks down to around to 1.5k operating income which translates into $125 of monthly cashflow, and this is what gives me the 4.5 CoC that I was talking about.

Ocean sounds and beach walks are priceless. 

Sounds like you have got a great plan and are off to an awesome start.

Again no offense but based on your questions it sounds like you have very little experience..

Sounds like you are leaning towards the cash out with a lower ARV leaving plently ofopportunity to add value down the road closer to selling. 

If you can keep it and ride out the storm, and sell at a later date this could be a sound strategy.

Financially, it's been a sound decision, but mentally, it's taking a toll on me.