I think this arrangement is better than nothing or me taking her to court to only get the land back. 

And will you be utilizing property management firms to help out? 

Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.

Are they doing everything possible to expose properties to the broadest possible market?

I wasn't around hosting during the COVID days & certainly sounds like they should've honored the hosts cancellation policies but know COVID threw a wrench into everything, no matter the industry.

I would look at multifamily meet ups in the area to start.

I suspect there would be massive blow back if the feds attempt to lower sec 8 rental assistance. 

You're gonna want to be around $400k purchase price to be in a good area too.

Something will come up that you do not understand or do not have to knowledge to deal with.

Welcome to BiggerPockets, Ian!