Rehab is not easy and let along long distance BRRRR and in the current environment.

If there are several people who say they navigate these environments without all these horrifying and despicable experiences, it would behoove you to consult with them.

Does the property have a "safe" room and environment? 

Maintenance costs in a resort area can also be higher than in non-resort areas.Regulatory Environment: Local regulations regarding short-term rentals can change, impacting your ability to rent out the condo or imposing additional requirements or taxes.

Though I also see the benefit in new construction, it could appeal to tenants who can pay more and the building will likely not need much or any work for several years.Those other updates are good ideas too, and not overly expensive, like adding mini-splits, convert to gas (though I hear that natural gas is falling out of favor now due to gas emissions and the environment), or connecting to public sewer (though I've been looking at a lot of urban and suburban buildings that are already connected).

If materials cost the same or more in a small town and labor is similar to slightly cheaper you have an environment that will lead to long-term deterioration. 

Do we need to get a Environment Clearance certificate before buying a Mobile Home?

For this current environment, if you can find something that yields an average COC of 5-6%, 8% Preferred (accrues), 70/30 split, 2.0x multiple, 15+ IRR, with a hold of 5 to 6 years, that is pretty good. 

We're entering an environment (about a year or 2 out?) 

I don’t know man, I love long term holds and equity pay down but even 500/mo—which is great—isn’t going to equal the TAX EXEMPT sale of your condo for 20 years, never mind assessments, tax increases etc.Feels like getting a chunk of cash in an environment where a savings account gets you 5% (coincidentally about the same 6K a year) gives you a lot more investment options, increases your safety net, and makes your life less stressful at a time where that’s valuable.