RE is nothing but math, sell it as is to an investor cash, if it makes sense, OR fix and sell, KEEP IT SIMPLE.

Keep in mind the competition.Have to look more at the ROI and being critical on who you approve as a tenant. 

We are now disabled and maintaining the land (in city limits) is becoming too much, AND property tax values are TOO high, due to a few lots that keep selling and owners later finding out new fema guidelines have made lots unbuildable.

In the end; they would have had to dig-down the basement in order to achieve the necessary height, and then ended up just deciding to vacate the basement and convert it to "Heat and Storage" and ended up loosing all of their rentable potential from the basement level...Most of our clients see it as too much of a risk to try to keep the existing basement floor when it is around 6'-11" - 7'-1" rough.

Can i keep the security deposit?

Are you looking to supplement your income, replace your income, leave a legacy for your kids, keep scaling and figure it out as you go?

I wonder if the parish will keep the overages in all of the cases where the owners can't be found or if they will scoop the difference in interest like AZ does. 

Just keep in mind that any state or local statutes supersede the lease if they conflict.

Anything I should keep in mind for managing a rental property out of state?

Also, if you are qualifying for the loan based on your personal DTI (debt to income ratio), the personal loan could change those ratios and keep you from then qualifying for the mortgage you want.