I don't need more drama in my life.

The harsh reality is that your ten percent is not going to get you very far in commercial property so you may want to consider an office condo - that's how I started - or just run a search on LoopNet for properties you can afford and go after them.

If a tenant is spinning tales, that's too much drama, disrespectful and not acceptable.I think it's wise to establish expectations with clear communication from the start and to enforce the terms of the rental agreement.

Maybe without the personal drama, he’ll be a better tenant.

Not to be harsh, but I'd hate to see you make your entire IRA taxable. 

Does that sound too harsh?

Harsh reality. 

[Yes, they survived the dramas that time].The main thing about that episode was: the comps were VERY well known and established; a gated community.Whereas, a "rural neighborhood with very spread out lots and 2-3 acre pieces of land" might be HARD to comp!

At 1% this property will probably make $1k - 2k of cash after all expenses including mortgage.Lastly , your $400 people usually come with lots of drama.  

You need a couple of hundred thousand dollars for a down payment for just a single unit but the profit is huge and you don't need to deal with individual persons (and drama), just a business that sign multiyear leases.