But from my personal perspective their previous lease does not involve YOU at all.  

The bank involved with the business deal advised against buying the property as it would affect the financing of the business. 

Also, being an hour away it will keep you from being too involved in the day to day. 

As with all real estate investment scenarios, it depends on your situation, risk tolerance, and the tradeoffs involved.   

I have been involved in REI investing for 3 years. 

You should also involve Vrbo if something comes up that is beyond your control.I personally have never had to cancel a booking, so I don't see this as a big deal.This must be an issue for them to come up with these rules.Preparation H has a warning that says no to take orally, probably because someone did do this, so they had to create the warning.  

Everybody involved in the original transaction and some who weren't were named.

House hacking involves refinancing and reinvesting properties, while DSCR loans are based on property income.

There is also one big issue with your tax projection - the taxes of $280 are based on the vacant land taxes and will likely go up to ~$2000-$3000 in a year or so when the assessor catches up with you.I realize there is a 1031 involved so a real estate purchase is necessary, but you should compare your ROI to a safe yielding instrument like a 10 year T-note or AAA corporate bond yield. 

Long-term goals could involve building a diverse portfolio, achieving financial independence, or even transitioning into real estate full-time.Ultimately, the journey in real estate investing is both challenging and rewarding.