CAVEAT: Yes, I realize a portion of the debt service goes toward loan amortization, so you're not "losing" that portion per se. 

Rental real estate is a "per se" passive activity under IRC §469(c)(2), regardless of participation level. 

I have a home in the SE valley.   

RV/Trailer Park (pros: profitable with medium investment upfront | cons: lots of regulatory permits needed, and again not in an "activity" zone per se)5.

So, it is not tax deductible, per se.

Let's say I need a BSCE and MSCE, 10-15 years exp, 5 years management, plastics, no gaps, no tenure less than 3 years, with ties to the SE: If I find someone who has all of this, they're in the door; if they interview well, they may get a job even if they are fairly mediocre.

Meantime I got sick and my credit took a hit (higher revolving credit) as I'm SE.  

There was still a significant amount "left in the deal" per se, which is why the owner finance piece is so critical. 

@Cole BigbeeI see the 10000 sq ft as a sweet spot here in SE Alabama just as you describe.

I have 4 others in SE Raleigh one mile from downtown that I am in the process of renovating. 2 of them have been completed, one is an Airbnb and the other 3 have full time tenants.