This means leaving the door open that long to dry.

Yes, long-term rental clients sometimes don't want short-term rental next door to them, but you are the owner and landlord and set those expectations up front so it's on the table before they lease.

Primarily desert washes, but also near a creek....So I would go knock on doors and ask neighbors when it has flooded and what they think about the area......maybe call the County water board and ask then what has happened there in the past.

If there's a lot more headache- then I encourage you to implement or improve a Complete Household System, try to get SFR's with 6-11 bedrooms, no more than 3 rooms per 3/4-Full bathroom, and make sure there's one (not more than one) beautiful living room with a big screen TV. 

I call it being a concierge Realtor,  I have done it before for investors when they just need doors opened or comps but don't buy listed/on market properties.

I live in California (Central Coast) and have built a 12-door portfolio in Detroit, which has been a great market for both cash flow and long-term potential.Detroit still offers properties well below the $150k mark, with strong rent-to-price ratios and a market that’s seeing growth in key areas.

Adding $125 - $166 per door boosting overall property value.

I know an investor that might partner with you on the lot next door and/or may buy your lot without the title policy.

I feel like getting my foot in the door now with this one property would allow me to learn without being too overwhelmed.

You can finish your basement and add a bathroom.