If I look for someone in my area, Elizabeth City, the results are anyone that ever mentioned "city".

It’s a very successful business that one of the two mentioned people wanting to take over it, is managing.

If someone mentioned that closing costs were $5,000, that would be 10% on a house with a value of $50k but it would only be .5% on a house selling for $1M.Your questions aren't as simple as you think. 

Denbigh tends to have a considerable amount of condos and town homes for rent, but as @Edward Barnes mentioned, the HOA fees can eat into cash flow when you run the numbers.

All mentioned will not hurt either.

I forgot to mention that my second home would/could be smaller, and wouldn't need to be on the coast-high cost of living area.

MS don't fool around.. they picked him up on Friday night ( you know on purpose) so he had to sit in the cooler until Monday when the judge got in to set bail.But every state is different on how they handle this stuff.in the list I gave you I have funded wholesalers and flippers in all those cities Save NY ... every other one I have funded in... along with half a dozen more cities not mentioned that are too tough to wholesale in in the first place like CA..wholesaling is a very very tough gig.. and not a starter strategy.. the guys I know that are successful have big business's with huge budgets to make this work.. its not a hey I have no money I am going to wholesale and get money to buy and hold.. can that work . sure a blind squirrel finds an acorn.. but to really make any money at it .. its a full blown business.. with all the things you need in a mature business enterprise.. staff  capital... experience and UBER sales skills.

You mention local employers maybe a gift basket followed by a phone call to those HR directors mentioning that you have a place available for new or existing employees.

This is in addition to depreciation recapture mentioned by @Brian Schmelzlen.Mr.

Thank you @Tracy Streich and @Jonatan Barbera for the mention.