But I do not share your optimism that it's not a threat.Read this, although certainly not authoritative but just the IRS interpretation:https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues"...But to the extent gross receipts are generated by the shareholder's personal services, then payments to the shareholder-employee should be classified as wages that are subject to employment taxes..."

Ocala is getting a huge new marijuana grow and distribution center for medical marijuana. 

In "Skid Row", there were usually several kinds of apts for the homeless or very low wage persons including "SROs (Single Room Occupancy)" and Flop Houses.Back then, you could have lived in one of these "SROs" by working in some menial task that didn't require any skills such as loading and unloading trucks, etc.They didn't care if you were mentally ill or physically disabled or need medical attention.

Even though I use a property management company, it doesn’t make you immune to the drama.When I have the time, I train Brazilian Jiu-Jitsu (Brown Belt now), exercise or travel mostly to California or Northern Arizona with my family.My goal is to one day be on the BP podcast!

I started RE investing as a way to exit corporate America, so with that means I will be responsible for my own medical insurance. 

And if your budget is 15k for closing costs and rehab, what happens when something goes wrong like a water heater, air conditioner, medical bill, car breaks down, etc?

The house should appraise 20-30% more than cost to build or it may not be worth the exercise unless cashflow is really good. 

I've collected rent in bars, restaurants, casinos, WalMart, my driveway, at an armed security gate at a refinery, a medical clinic, a hospital room, and ATM's at a bank and convenience store.  

To give you some info about myself...I graduated from college in May Debt free and am currently in the Medical Device Industry making 80k in year 1.

The tenant had 3 years to exercise his option to buy , buy failed to.