Times: "If you rent to a family member or friend for less than fair market value, your property loses its rental status in the eyes of the IRS and becomes, instead, a second home.

So Cozy clearly keeps an eye on this thread and I expect they would be responsible for the votes, but that seems fair. 

This helps reinforce in the eyes of the law they are separate entities should you be challenged.

Keep an eye out for foreclosures and short sales. 

From a birds eye view of the question you posed, the responses you’ve received and your rebuttal of those responses, I find the discussion fascinating and think that if at all possible you should exercise diversification.

One VERY long term tenant who pays rent lower than the average rent amount (she has a lower rent amount as she came with the building and wants to stay) she pays with a years worth of post dated cheqs and keeps a great eye on our place.

We had to learn that, in order to keep our eye on making the business successful, we had to stop doing that.

Under the Learn, you can look up flipping houses too & I'll be sure to keep my eyes peeled for anything that may come across to me! 

So far there's no problem with water or peeling -- being a high moisture environment I'm keeping an eye out for that as a possibility. 

Pull up the property on bing maps and get the birds eye view from all four sides.