. - Tenants complaining about gunshots, drug dealers, violence, etc. to try and negotiate rent, late payments, etc.

Think in terms of - would it matter to your mortgage lender or your car dealer if you were disabled, etc.? 

@Matthew Irish-JonesMy plan would be just a rental as I’m not too confident in the idea of using it as an Air BNB but admittedly I know very little about that part of RE.I would prefer to start as a rental and possibly switch to an Air BNB once I get more properties or understand that world better.

@Matthew Irish-Jones is exactly right. 

But, if you guys can afford to do the septic and any other improvements, you can probably make a profit just by doing that.If you can't afford to finance the improvements, you might look into wrapping the loan up with a construction loan.Sometimes, you can even get a FHA loan to do so.Another option would be to get a loan from a manufactured home dealer.  

I just learned this for where I now live as a low income senior with Section 8 in Silicon Valley.So, you may not get the rent you think you'll get.Then, only you can really answer the question about whether or not you want to rent to people who may be drug dealers with guns who might kill people (per your own description).I would not want to do that.  

So, I open the door and we say hello and he asks me if I have a mattress he can use.I had by this time learned to perfect a non-emotional bland face and to not give my initial Irish reaction when someone was ridiculous, but rather to take time to compose my response.So, pause, pause, pause, pause....."

He gets cabinets/countertops from a wholesale dealer which keeps costs low.  

Property management companies are not credit card companies or lending agencies like banks or mortgages or car dealers, who normally report to credit bureaus.

Hmmmm, maybe drug dealers?