After those sources are RE agents, mortgage brokers, friends and family.  

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

Private mortgage insurance i believe is not charged on va loans.  

But it's a risk.If the PM is that bad, I suggest you do some research and find another manager.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

 - a study on rent cost compared to ownership cost shows that virtually every large city market it is initially cheaper to rent than own (I believe is was cheaper to went in 97 of the largest 100 markets)Miami and Florida have extra concerns:- insurance difficulties have resulted in large increase in insurance costs.  

We wanted additional units to pay mortgage and have cash flow.

If there were banks or CU's doing blanket mortgages everyone would know about it.

Also, you will likely only be able to use the rent to offset the mortgage pmt debt on the rental property to $0 since you dont have any Sched E history yet. 

With my CFO clients, I generally assume a 35% operating expense margin (which excludes vacancy and mortgage payments) to start with and adjust from there.

Obviously the HOA is keeping values in this neighborhood down because an owner would have a mortgage plus another $715/mo for the HOA, which only covers use to a community center but nothing else.Besides holding costs, is there anything else I should be concerned with for a flip on a land lease?