How long does their property turns usually take?  

Of course they can get a higher sale price if they are willing to take on someone who cannot get a loan, or are offering better terms than current loan options.

But, in future if we want to develop any residential or commercial buildings on this land, would this rail road track going to be a deal breaker in terms of attracting potential developers or buyers or investors? 

If the interest charged is less, they charge income taxes on 4.9% as imputed (I believe that's the term)2.

How long ago did the comps your agent provided you close? 

If you want 10% returns you might have to look in another market, but if you want to park some money in a solid property, as long as it generates enough to break even after all expenses, taxes, etc. to allow you to hold on to it for 5-10 years I'd bet it will do better in the long run than a 10% cash flow property in a lower end market. 

Tenant who has been in property for 6 months came to us and wants to break his year long lease to move into another house in the same neighborhood.

I'm thinking of investing in a property in Miami (Edgewater area) for short term rentals.

And as long as you own that property you'll never pay the tax. 

I read their cc&r and the only thing I found that relates to rentals is a line that reads “Property shall be used for residential purposes only”But I’ve reached out to the hoa and was told “Our HOA regulations say single family home which means No vrbo or short term rentals.”I’m getting confused since I’m fairly certain that single family home doesn’t mean what they think it means.