When analyzing deals its always seems as if the opportunity is passing me by and the rational part of my brain turns off but posts like yours are sobering and will help prevent mitigate losses.  

When your rental produces a loss in excess of income (AGI) you have a passive loss.

Mold requires moisture and a food source (dust is sufficient).

Also, do the aggregate losses above any W2 income get carried over to the following year?

I pre negotiated rolling any inventory that I could not sell or would have to take a loss on to 5 year term and rent them..

If your income is below the $150,000 AGI limit you will be able to use up to $25,000 of the passive losses (if any) to reduce your income and therefore tax. 

      I am looking to get some advice on the best ways to buy land and create a food truck park in TX. 

To your questions though, my clients have not experienced the dramatic loss of negotiating ability that you have illustrated.

Alternatively you could use Section 179 expensing here as well, but the expensing can't create a loss for the rental and may be carried forward.

The food part is one thing, but charging them rent is another.I'd also check if the three are relatives or if they lied.