It’s very hands on for most owners (high turnover employees  and employees stealing bc of cash sales) so as long as that’s something you’re willing to do it’s likely a great option for you. 

If I was you, I would work on paying off that credit card debt, before you get into another large debt, especially if that $7k is high interest debt. 

Pour concrete over it high enough so grass doesn’t grow over it.

That isn't enough equity to move the needle now and since you are on a 5.75% FHA, your payments are probably still pretty high comparatively which might cut the ability to save more.

If you're not comfortable with what is written out and legally binding, I would highly recommend just looking somewhere else for property.

If i could chime in and help in the search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

Hi all, My husband and I are high-income earners in a high income tax state (California).

I have a brook running through the yard with a high bridge going over it.

High-net-worth investors over 2-3M will probably opt for irrevocable trusts to get assets/liability out of their personal estate.

Re Invest in Arizona is expected but high appreciation.