There are over 100,000 retired people, so the weather must be ok.

The seller is older and would like this to basically help with retirement.

I believe they intend to make it a veterans retirement center. 

Assuming that we each split the up front cash needed 50/50, my partner has recently retired from his full time job and able to act as a general contractor role dealing with all aspects of on the ground work, however, I am the one who is still employed with a decent income from W-2  (my partner also has maxed out his credit due to his other real estate endeavors) and therefore, the plan is for me to obtain finance if the deal is financeable or, if not financeable, we will each contribute equal amount of cash, and then cash out refi using only my credit.  

I had read a handful of personal finance books before (favorite being The Richest Man in Babylon), and had come to the conclusion I could live a nice life, perhaps even retire somewhat wealthy, but I never even thought being young and wealthy was a possibility.

I retired early two years ago and thought I would purchase a mid size MF to replace lost income.  

Hi BP members,My family (brother (28), sister (22) and father) and I are beginning our venture into rental real estate investing as a family business as my dad begins to ease into retirement.

Maybe get tenant 1 out asap and give tenant 2 a few months until you are stable. 

Banks definitely lend easier with a stable W-2 income, so I plan on keeping my job as long as possible to get my boat closer to the dock before I jump ship.

Whether your are a flipper or a BRRRR investor higher interest rates will in a stable market (not including places like Seattle and Denver in this conversation) lead to declining sale/appraisal prices and allow you to cash out at a lower % to ARV in order to meet your cashflow needs.