Regarding the lot, if you plan to lease it out then yes you'll be responsible for making sure the connections (i.e. water, electricity, etc) are properly working and doing the upkeep.

@Andy Wilson Forgot to add to my post to make sure you screen the tenants properly.

Perhaps I'll take a more cautious approach to people who have a lot of debt even if they are managing it properly.2) Did you do anything to help them or check in with them genuinely about the impact COVID-19 had on them?

@Bret Habura - It'd definitely listen to what @Sarita Scherpereel and @John Warren said above, they are spot on.Taxes suck but if you underwrite your deals properly then you are covered. 

Personally, I am willing to take on a lot more debt, as long as it is properly leveraged and I am still making money.

If you go this route, it would be best to work with an attorney to structure the deal properly.

If I do this properly, I’m hoping to eliminate the 6 month seasoning period require to refi and recoup my all in costs.

@Kumar GauravAn LLC is touted because it does provide asset protection if it is properly set up.

Lack finance, but with a proper presentation I can obtain it. 

I properly allocate a percentage of the overall rent to expenses like CapEx, vacancy etc, but on top of that, how much should you have set aside in order to sufficiently cover any unexpected expenses.