I have ways to get the big take down money covered already, it’s the little extra per house expenses  I’m hoping to get access to.

I have family in both Ventnor and South Florida which is where we stay when visiting.I love the idea of being able to purchase a property in these areas with the intention of getting all my costs covered by STRs and being able to use them for my family.I would love any feedback on this especially for this who have STRs in some of these areas.Thanks!

Is that enough to cover insurance, hot water, maintenance/repairs and reserves for capital expenditures?

Have a reserve and cover yourself.

I finally came to the conclusion that each unit needs it's own separate system, and there will be some parts of the home that are not covered by the system.

Any ideas to help cover the rehab I know I will need to do, as well as the potential issues in 2 of the occupied units?

Some investors do not want to own 100% directly do spreadsheet investing where they invest 100k here and 100k there etc.So many variables to go over and it just can't be covered fully in a forum thread post.Be careful on multifamily.

Before you pull the cash out, make sure the investment can still cover all expenses, including debt service. 

I live in a highly letigious state (NJ), and knowing that you are covered is well worth it's initial cost.Proper screening pays off even more so than the lease, there are so many free guides to doing this.Remember,  the tenants are not your friends.

85% seller financed, 15% down payment plus closing costs were covered by a private money loan.