So way I see it shaking out is once hit % of criminals and aimless are removed, THAN a process of legalizing the rest who live legally otherwise will be presented. 

One of the big benefits of buying the whole thing on a fixed rate loan is that one of your major expenses is fixed for a long period of time, including the cost of the land. 

They're looking for a stable market that is gobbling up houses just after a slow period so they can still get good deals on land before it gets hot and popular again.  

In California, a tenant is considered an “at will” tenant if ALL of the following conditions are met: (a) the individual occupies a property, or room within the property, with the owner, (b) there is no agreement for the occupancy to be for a specified period of time; AND (c) the individual occupying the property is not paying, and never has paid, any rent.

For me rent is due on the 1st with a 5 day grace period.

I would be buying into a sellers market in almost any Albertan city.Alberta also worries me as it is known to be super volatile for short periods of time and then sit dormant for up to a decade. 

@Will Jones, we are in the process of putting an offer on a piece of land in where we will build a building for one of my businesses and then lease out the rest of the space.  

.—(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants.

The appreciation and annual rent increase could give a good IRR with a reasonable holding period. 

Once renewal period comes up (if they've been paying on time and causing no trouble) you can decide if you want to keep them or move on.