The interior was outdated, the landscaping was overgrown, and several deferred maintenance issues were apparent.

Another issue is that many lenders do not lend below 630-650 FICO/credit score. 

The interior was outdated, the landscaping was overgrown, and several deferred maintenance issues were apparent.

I don't forsee any asbesto issues.

Don't feel bad, this happens a lot.Facing 80% vacancy and tenant issues can be tough, especially on a first deal.

The issue I have seen with these types of properties is they could have two valuations - the value of the real estate which the structures will have little value and you have the land the other is as an operating business just like a bed and breakfast would have - real estate has value but it operates a business now you mention 12k / month but if someone also has to manage the property what is that worth and what would someone pay to manage a property like this?

Presidents do not change tax laws.They can issue pardons and various executive orders, but changing tax laws can only be done by Congress.It does not matter what tax laws Biden or Trump want and promise.

Furnished Finder is what we use to list all of our mid-terms and don't typically have any issues finding tenants. 

I contacted Zillow about this issue but received no response.

Can you buy a house with a legal suite?