I'm hoping it's the latter.If you can't handle living in the privacy of your home (or rental) without an animal, you probably need to be a psychiatric care unit.

There are rural areas in Kern County where prices have not really recovered like much of the state and better cashflow exist,  But these areas don't have the solid job base that bigger cities have so finding solid tenants is a challenge.  

If you have any issues like property damage or loud parties, better than calling the cops the chain of command will handle those for you.

That is the kind of info I'm looking for, but my challenge is we never got to the specifics.

In this NW market in desireable Oregon locations it seems to be challenging.

Walking through sold comps is a challenge, but take a closer look at the entire spectrum of sold comps. 

How would we handle this objection when talking with friends and family about investing with us?

Full 203k is pretty much wide open, as is the homestyle, BUT they both require a licensed "consultant" that creates a feasability report, handles inspections and draws, etc.   

Back to the unit though, it's separate from the main building, has it's own entrance off a pathway, actually WAS a "house" at one time (see: https://sf.curbed.com/2015/2/24/9988502/rememberin...) before it was moved to this lot, has it's own dedicated yard, I have a reasonably priced contractor that I took care of in 2008 that makes sure I'm taken care of first when there's work, and my business partner will handle almost all the city paperwork.

After that I would compensate them hourly if for some reason there were an excessive amount of things for them to handle during one month.