So, to even attempt a drive-by on this place, I made an appointment for a realtor to show me another house in that neighborhood, then I conveniently 'got lost' on my way out and drove to this waterfront place.

I like the way you spin it as being more convenient to pop into an open house rather than  make an appointment, which is in line with my point of not wasting anybody's time. 

It looks pretty convenient and passes  the cost onto the tenant.

I'd try to turn it over at minimum 3 times per year rehabbing and flipping until I could pay it all back and have my very own pile of capital warehoused to gamble with.

A commercial property “owner” who needs cash at a time when prices are down may lose the equity when the property is sold, yet the bank loan may be paid in full.Using other people’s money is still touted by some as wise and the way to true wealth, but it is really just gambling.

In the future, I may build another home on the property for income.Acreage is in a very desirable area - neighboring homes range up to million+.We live less than a mile from the property - very convenient for us.The at some point to be owners are 'don't wanters'.

No time, 3% convenience fee passed to tenant.  

I lived in Clayton County (ClayCo is the nickname down here) 12 years before moved up to Downtown Atl.After the school system lost its accreditation forcing the residents fleeing to other counties, the housing crash finished with a KO on the real estate market.I took a gamble, cashed out my retirement acct, and paid cash for 5 doors down here.

Also convenient to the Crosstown Expwy and trendy Rutledge.  

The only time I've ever done longer than a 12 month lease was with a tenant who I had a long history with, who I trusted, and who had verifiable reasons to stay at the property for more than 12 months (she had a job in the neighborhood that had an 18 month contract)...a long lease can be great if it's an A+ tenant you know well and trust, but a long lease with an unknown tenant is a gamble...