(tennat pay all outgoings)As far as Covid-19. essential workers would be great, but as with any Commercial property you always run the risk of lower vacancy time frame. 

I have 3 homes in Davenport FL that are short term rentals, one of them is rented to someone that we believed to be an essential worker, but apparently they are not.

You can essentially double your rent in many cases by using that strategy.

Any insights to starting out: plans to have in place, what to expect, not to expect, education platforms, essentially anything you may “wish” you knew before getting started, would be appreciated!

I think you did the main part by hiring an attorney to draw up the paperwork. 

Go to the title company and review past owners, have an attorney properly review your paperwork, review records for ownership of the home, and if fsbo makes sure there is no clause in the mortgage preventing this for sale by owner, or make sure they have full equity in the home8.

There is no REAL legal documents for you and you have to go to court in hopes of getting something out.And I wouldn't go to court if I invest 5k because the court will cost me money too.On the other hand I can use this 5k for down payment to buy a property and rent it and let the renter build me equity with solid legal paper work.

As it is, it sounds like you're paying for the location which is essentially banking on appreciation and the ability to raise rents.

DG is considered an essential business type and those are doing really well mid COVID virus. 

What part of town is ideal, how did you acquired the loan and what did the numbers look like including cash flow.I would imagine that most responses would have me move to the midwest, but my grandfather has dementia so staying here is essential for now.Your thoughts and responses are greatly appreciated.