If you can submit plans, likely sealed by an architect or engineer, and get the official approval before buying, that would be safest.  

Locking up properties that will be hard to sell are a punch in the gut for the sellers so you have to step back and think, are these worth locking up or would the seller be best served listing with a local agent and getting out, without you in the middle.It sounds like these are ancillary to your territory and usual buy box and that usually means you don't need them.

I have had 6 people sign paperwork to buy the home over the last few months, but even the cash offers have pulled out when they see the price of Homeowners insurance in Louisiana right now.

Came across this Deal from heritagegroupcapital.com, They are buying 2, 100k industrial fully tenanted/leased buildings in North East Indiana, near Fort Wayne.

Would I buy another one if I could in this very same area, I ABSOLUTELY would if it cash-flowed like my existing property. 

I knew nothing about real estate or investing except that I should buy property and hold onto it.

Buying from a distance is certainly challenging but don't hold this experience against the entire turnkey model.

I am about to buy my first rental in Baltimore metro area.

If the LLC signed the contract, and you buy the LLC to not have to record the real estate value, you are also taking on the liabilities of that LLC.  

If the property has STR history and this is your first time buying an investment property you may also push for an exception with a higher downpayment 25-30% along with other compensating factors.