I was wondering if anyone else had feedback on the performance of this property.Additional, I have started to give more though to owning a second income property likely Brevard county/Melbourne/Palm Bay.

If the property has been stabilized for a few years you may be able to try a commercial loan, which is based more on the performance and less on personal finances.  

I'm not recommending against it, just perform your due diligence on the pros and cons. 

EQUIPMENT: Tenant/Buyer agrees to provide and be responsible for his own tools required to perform the services herein.5.

Who will perform it?

He said this type of business (flipping contracts) is more difficult to perform than any other real estate deal.

I might want to sell 1 or 2 or do a 1031 exchange but don't know how to analyze which ones are under performing.

While it sounds like it is a very nice passive investment, ALL investments require some oversight on your part to make sure they continue to work at peak performance and that you are not taken advantage of.

I have invested in a couple of small single family rentals jn the Dallas area and have been very happy with the performance.

Of course some properties will perform better, but if it cannot meet the 50% rule, it is best to walk away.The 50% expenses include vacancy rate, insurance, property taxes, repairs and maintenance, owner paid utilities and capital reserves.