After communicating with a prospective resident (Google Voice #, usually by text), with just a name, telephone number and email, the applicant can pay $55 to provide us with a background, eviction and credit check.

My thinking is that by renting to a residential care facility I can effectively utilize all the space, earn above market rent, and help provide a needed service, while avoiding tenant parking jams. 

This approach helps manage costs while providing predictability for tenants.Thanks @Julia Lyrberg!

fpr=1k54qIf you want to DM your address I can provide you with a free report from my tools (bnbcalc and AirDNA pro)

Based on what my attorney provided, the plots aren't worth a ton of money, but since I haven't done a land deal I'm not sure if the actual sale price differs from what she got me.

@Kyle Trotman, for local conventional lenders, feel free to message me, and I can provide a few points of contact who may be able to assist.

I am also willing to provide information on the Memphis and Chattanooga markets.  

He has helped a ton of BP members successfully house hack and has done it himself as well and can provide you with invaluable experience.

Could someone summarize what it is and what the impacts could be?

Follow the advice you have been provided by great people and real estate legends below, especially from the likes of @Jonathan Green and @Nathan Gesner and you will buy your first rental property within the next 3 months.Goodluck.