Now, I'm imaging a scenario when every one of these tenants move out that I'll be paying their entire security deposit + interest even if there are damages beyond normal wear and tear. 

I get asked fairly often "How are things in the Smokies right now?" 

For example, many regional and national builders (like DR Horton, Lennar, Toll Brothers, etc.) showcase their homes on our website at wholesale pricing where you can get up to 10% discounts on homes, 10% cash back, significant rate buy-downs, etc. that you would not have access to if you were to buy from them directly.

Thanks for the tip.

She is now in arrears 3 months and has agreed to deed the land back to me and take a Promissory Note for the balance 30K. 

Great start but now you have some daunting questions.

Money now is very good because you are new and ready to do all the work, but the examples you'll hear about are people posting on BP saying, "well, I did all the work and they got a lot or most of the profit." 

Maybe a fresh coat of paint, flooring, unless what's there now if salvageable, make sure your electrical and plumbing  are in good working order.

Following the installation of a new water meter, I received a true-up for the previous underbilling.Since the meter replacement, my water usage has increased by approximately 20%, and I am now receiving monthly bills instead of the previous bi-monthly statements.

I find DSCR most lenders are 8 to even 9% for max leverage on 5+ right now.