Accept whoever applies" is an idea that would cost you a bucket of money in the long run.Bankruptcy is usually a "no" unless it appears to be a one-time event caused by something out of their control such as a massive medical bill or a business failure. 

Fill out both medical and legal power of attorneys.  

Establish a Charitable Remainder Trust (CRT): By placing the property into a CRT, you can receive a charitable deduction, defer capital gains taxes, and receive income from the trust.

If you're near a medical and/or law school, monthly rentals are preferred by those who are preparing for board exams over vacation rentals as well as by visiting professors. 

Eliminate debt, establish a budget, and save.

The key is establishing strong systems and processes.As mentioned earlier (KISS—Keep It Simple, Stupid), there's no need to overcomplicate things.

Long established residential neighborhood and used to be a corner store.

To clarify my assumption about current equity: most transactional activity in the area has been new construction and established neighborhoods of "better" quality.

One was a medical professional couple working at Beebe, the other a family relocating and needing a place to stay while their house was built in Lewes. 

Spend like cash for medical weight loss, hormone therapy, IV infusions, aesthetics, specialty treatments, supplements, and more!