They had their manufacturing in the basement unit and were shipping through internet sales and KILLING it.  

Read about all the legal requirements on the internet for syndicated real estate and using other people's money.It is quite simple to do the math to know whether or not a property will result in a profit.

The fact that you just described your plan on the internet means you can't say you "decided never mind" because you premeditated the scheme. 

Guests steal things and they have a way of leaving filthy dishes, a filthy stove and sometimes it is difficult to put all the dishes, utensils and pans in the location you want them.Unlike conventional rentals, you income is not guaranteed, you have to pay management companies a super large portion of your booty because not only does a management company have to take care of your guests 24/7, they also have to deal with the cleaning services and destruction tenants leave behind them.You have to constantly juggle your calendar for tenants who want to move their move-in date forward, backwards and cancel.

Did this applicant say what sex these cats were and are they spayed or neutered, up to date on vaccinations, on monthly flea treatments? 

It is better if you use Excel to send a report for the entire year so your accountant can import your records into his software.As for rental applications and other forms, it is very critical that you get book about rental laws for your area and spend many hours reading the books and read as much as you can on the internet because you will constantly learn things you did not learn about.

(also thought about it being boat storage until local development catches up so at least it would cashflow something) going to wait for about one year, before we take any major action (Bridge Development should be rapidly moving along by then - Completion date for bridge is 2024)

To date she has paid $500 out of $3400 rent.

We have a buyer (under contract) with a target close date of June 15th (or sooner) to purchase the house for $125K. 

We pay the CCs on the due date, in full to avoid interest there, but for the 30 days the balance is on our CC it is interest free.