Or rent for less long term.IF I can make this Lake Front property a successful 30 day furnished rental, it will allow help pay for my parents care in assisted living, and reduce the draw down on their savings (and preserve my inheritance). 

Real estate can be an amazing tool for reducing taxes.

This is important because you should have an idea of which locations you'll be able to cashflow a property versus the neighborhoods where it may not be about a positive cashflow it may just be about reducing your mortgage by having tenants.Bottom line- Start your journey by researching the market before you move there so when it's time to pull the trigger you'll be making smart offers

I work in a medical field and there's always a shortage. 

I try to be courteous and spend tens of hours into my tax prep before I ever send them off to reduce the time and frustration of the person preparing my returns.

rather than drastically reducing the price and not profiting much?

If a seller does not have to sell, they will simply wait for better times before they reduce the price on their home.

I have been both formally diagnosed and medicated in the past for paranoia, and I feel I'M BARELY PARANOID ENOUGH for real estate.

In this case a good system should help you reduce the risk of bringing in costly tenants.

They follow state laws, or in the case of a VA loan, the borrowers entitlement will be reduced by the amount of the loss against the loan.