It's a pole-building (we call them "shops") with office, living quarters and mechanic's bays with large roll-up doors (6 bays in total).

Like I need quarter rounds installed around the hardwood floors, I hadn't got to that and thought I'd be alright without it, but of course I'm going to need to put that for the tenant.

Trim the hedges every quarter and replace mulch every 1-2 years.

Some Businesses do quarterly reports.If they pass the credit part of the application.. then I would consider to look or review or ask for tax returns.. ...Even business have credit issues to get financing / inventory they have to submit records for a credit report.. 

Here in SA, TX foreclosure leads get over 30 pieces and get so overwhelmed that they don’t call a quarter of them.

Here in Las Vegas, they usually collect up to one quarter when you initially close and payments are due quarterly.

I know I will have to pay capital gains tax at 15% on this amount, but that is still significantly less than the interest I will owe on the debt. 

As to your question on over-supply, look at the absorption rate (the number of units occupied in the market this quarter (or month or year) minus the number occupied last quarter (or month or year).

You definitely want someone who specializes in REI, and has a strong understanding of real estate taxation, and can provide you with tax planning ideas as well. 

I would send it to the IRS in quarterly payments, I know you will not gain interest but at least you won't run the risk of losing it to a bad investment.