Iria 4 is well located for amenities, you can walk to local shops, cafe/bars and supermarket. You may prefer to drive to the Boulevard if you are going to get a lot of shopping, but it can be walked in around 20-25 minutes. Saturday street market is the other side of the ravine. Sports centre at one end of the road and down the other end is the commercial centre. Again beach can be walked down to but in the heat of summer with a lot of beach bits you may find it a bit of a trek back as slightly (and I stress slightly, not steep) uphill all the way. Playa Flamenca generally doesn't flood in storms, although the roads can be more like rivers when the heavy rain is falling. Irias are nice properties, originally built as either a two bedroom or three bedroom option - living areas the same size but the three bedrooms have an extra room downstairs. Many people have added a shower room upstairs, so if you look at one without an upstairs bathroom it may well be something you want to consider doing at a later date. There are usually several of the design on the market at any one time so have a good look around as some will be better value than others. Think about orientation, where the sun will be in both summer and winter - you do need some winter sun, so consider how much sun the various seating areas get through the year. Also check that any alterations to the property have been done with correct permissions (including glazing a terrace).
Bear in mind that community gates may not always be shut all day, on many communities they stay open for part of the day or just get left open. I know communities with open back entrances but are gated to the front - so you must still take the same precautions on a gated community as you would on an ungated one - very few communities have security patrols (if they do your fees will be higher). Also if there is no intercom system, (I don't remember Iria 4 having that), then when the gates are shut your friends will have to telephone you if calling round and you will have to walk up to the gate to let them in every time. Just things to consider, there are always pros and cons to everything.
There are several Iria properties with Tourist Licenses so you may want to book a holiday in one of them, a sort of try-before-you-buy experience.