So I am thinking I will build a new home to live in on that lot.In the meantime I have bought my  future basic retirement home in Vegas so that's secured and done.But my question is this house here..

Here in San Antonio, you can still buy a regular sized home for less than the price of some of the Rising Barn tiny homes. 

It’s a duplex where according to my numbers I will be able to live for free if the home is on a regular 30 year mortgage.

These tenants are secured at $1395.00 for a 3 bedroom 1 bathroom and come pre screened.Let us make the connection for you!

Have you discussed with your CPA whether your flipping activities are an active business income subject to regular business/personal tax rates or more of a passive investment subject to capital gains and eligible for a 1031 exchange?

I know buyer protection is important but if I’m able to secure a property well under market, it would be worth the risk of not having a realtor “protecting me” throughout the process.

I am sure his security deposit will be used up on junk and trash removal, cleaning, fixing everything he broke.2) Among the things he left behind were a huge nitrous oxide tank in the bedroom closet and six boxes totaling literally thousands of steel cartridges that say "ultra pure" on them. 

There is essentially two types of investor to be included in the partnership: 1) member with very little assets to protect with a substantial amount of savings in retirement accounts, and 2) member with retirement accounts but also a substantial amount of money in a regular investment account.My questions are: 1) How does the Louisiana laws protect retirement assets and personal home in case of litigation? 

The principal is secure and less volatile than other common retirement assets. 

If they actually leave and the place isn't trashed then you are required to refund unused rent $$ and security deposit.