When I was a more active buyer, in my area I did similar deep dives into the HUD/REO markets and courthouse sale data based on Substitute Trustee filings.

If you subdivided into 10 lots unless you increase the value of the land the taxes should stay relatively similar.

Think of this similar to how you would invest in Apple stock.

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Also, if a tenant moves out without turning over keys etc, there is a court action similar to eviction in my state where the judge can award possession by declaring the place abandoned by the tenant.

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

I have never chose them as I found similar coverage cheaper. 

We had similar situation and just installed a pocket door.

What you described is exactly how I feel about our market; actually the numbers are quite similar. 

Origination fees and other similar fees are typically treated as active income and are subject to SE tax.