You should keep track of income and expenses to put together a profit and loss statement, which will ultimately go onto the schedule E (rents and royalty). 

This makes sense since  you were able to deduct all that was deducted rather than just what was ultimately owed.

I'm having a large hiccup because I'm fixing my credit but at least I know what it is that I ultimately want to accomplish in my life.

Ultimately you’d want to find the RIGHT tenant who will have great credit, income, rental history etc.

As far as financing buy and hold properties, I wrote an article with some ideas that hopefully will help: https://www.biggerpockets.com/renewsblog/2014/10/29/the-ultimate-list-of-ways-to-finance-buy-and-hold-property/

Obviously with an ultimate goal and hope that potential buyer DOESN'T SEE the actual original price - the price lower than my price.

That is a misconception esspically when considering seniours and retirement communities..The owners standards will ultimately determine the quality of the community.   

Not a big fan of carpet in rentals, it rarely survives one tenant.

Ultimately it seems like it comes down to the numbers, but in general is it geared more towards the cash buyer?

I came to Australia about 7 years ago from South America looking for a future and survival of my existence (literally), since Australia's market has become a big financial bubble quite impossible to penetrate, I decided it was best to get into USA since I loved this country when I just a child, I always have.