My wife's grandfather is in the final stages of his life on hospice care and the family is discussing what to do with his beach home in Nags Head, NC. 

I don't really care about.

Some very busy folks could care less about the area and that's often that's a great thing. 

The bank that gave us this commercial loan looks at the debt-service cover ratio (DSCR) and didn't care that the down payment was a gift from a family member.

I often break it down into the "five pillars" of protecting your assets.The first pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.The second pillar is a good insurance policy as that cover the majority of your exposure.

I completely don't care any more.

So if a property doubles in value you property tax will only go up by the capped maximum (I think 3% but it may be 2% - I used to know but do not really care about the 1% difference now).So at your income you will be challenged to find a place that you can afford with a safe reserve. 

I often break it down into the "five pillars" of protecting your assets.The first pillar is avoiding unnecessary and risky activities (don't drink and drive, insurance generally won’t cover your poor decisions) and take good care of your investments - these simple steps will help you prevent lawsuits before they even occur.The second pillar is a good insurance policy as that cover the majority of your exposure.

They have a PM that takes care of everything except repairs. 

I wouldn't say it's too risky to start, but you will want to be more careful.