Biggerpockets has a free e-book that will answer a lot of your questions as a beginner, and from there, just keep learning.  

Review the IRS form Schedule-E to declare income and expenses

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I have right around 40k of liquid assets, and another 10k in stocks, I could access if needed.

I'm totally dating myself with the E.

There is no guarantee that the next tenants will be better or get along better.Examples:Operation, Maintenance, Storage, Alterations to Premises: On a continuing basis, tenant agrees to: Keep premises in a clean, neat, and sanitary condition; no parking, storage, or accumulation of debris on lawn or yard.Not store non-operating vehicles, nor boats, RV’s, motor cycles, trailers, firearms, equipment, tools, hazardous materials, liquids, paints, fuels/oils or chemicals on premises without landlord/agent approval; no waterbeds

In this situation, the first thing that would have come out of my mouth would have been, "I'm not sure if I have that much available in liquid form to be able to lend, and even if I did, most of my money is tied up in partnerships so I'd have to get my partner's approval which means I'm going to need a lot more information about the deal, your credit report, etc."

In Minnesota, medical marijuana is in liquid or pill form.  

I had it for about 30 years before I let it expire.  

My county population is only 19,000.So, i have been finding other ways to build my buyer list for my county and working with my friend, he does his own rehabbing in Hardin county, ky - E-town.