You may also have the owners stay on {part-time} for a season or two to help train the new management (you).Acquire the hard assets:  In this scenario you would only purchase the real property and those hard assets (docks, boats, etc.) that you deem would be beneficial.  

Grants/government assistance can be a great way to get help with the downpayment, but be cautious as some can make the loan terms worse for you.

The potential ability to add 6-8 additional homes (to rent or sale - still evaluating options), under the new building codes to help spur more housing is the most intriguing thing about this property.

Both markets have a low barrier to entry and there are many professionals here who would be willing to help you invest out of state.I hope this helps!

Obviously I don't have much to offer currently in terms of local knowledge but I love connecting and sharing info and plan to be a valuable and helpful part of the investor community there. 

For example, will your turnkey provider help you get your rental approved for Section 8?

There’s a bunch of qualified brokers that can help nationwide 

DM if you have any other questions I could help out with!

If you are doing STR in Raleigh I would love to hear how you got started, how the cash flow is and any recommendations you can share that can help me get started.

I not only joined this site for the knowledge, but in hopes to find a community of like minded people that are interested in helping others to grow.