Maybe I'll try that - my only concern then is I don't get the chance to learn by rehabbing the home with the contractor and asking them questions (unless I wanted to make multiple weekend trips down).

If you guys can bring your principle balance down to ~ $250-300k, you could refinance before you leave and bring your mortgage payments around or below $1800.

They have informed me that they are not leaving their home.

Rents are strong and vacancy low.The obvious concern for these markets is that the lack of population growth may worsen and actually begin shrinking.  

I share your longer-term concern about anything even near a beach as ocean levels are rising and there is evidence that hurricanes are strengthening.  

Call everyone back whether they leave a message or not

Also, as far as the loan is concerned.... you either have to have a sweet rehab loan, or some other way to buy the property.  3  Holding costs:  Not the biggest item on your list, but not nothing. 

(I Really wanted to say to Leave the keys in it at a gas station and ...you get the idea but since you are backwards that would not work. 

11.Are there any environmental concerns?

And after the 1 year owner occupy requirement, I can rent out the other half and the numbers work (but only with 2 tenants so vacancy rate is a concern).