I would however do extensive research into the market you are purchasing in, what houses nearby are selling for and if there is job growth and population growth.

Made me realize this is really a turnkey market because lost of people looking for the cheap houses (80-160k) and a huge population of people live here are in need looking of rental properties.      

Another speak optimistically stated they expect SW FL population to double within less than ten years.

(5) Which areas within 1 hour drive from Atlanta downtown that have good population and job growth?

And then in 3 more years, when the populous of this country see how ridiculous these republicans are and how everything they've done was geared to the rich and the large corporations, you'll see a tidal wave of democrats voted in and all these rules clawed back.So it wouldn't surprise me if we don't see a sea change back  again in another 4 years. :-)

I chose Idaho because the population there is growing (1.08% growth) even more than Colorado (1.66% growth), according to my research.

Now except for grocery centers that is being reversed. 70% smaller tenants and then a few small box anchors  that make up 30% of the revenue stream for the project.Lot's and lot's of layers and variables go into what a retail property is worth including location, age of building and look, parking,lighting, access to property, sight lines, traffic lights, corner or off corner, traffic counts, population levels 1,3,5 miles, median income levels, etc.

Your prospective renters are going to be the current homeless population so I doubt 500 is achievable. 

Perhaps there will be no change but at least you may have better tenants, you may have created a way to have a better rapport with the people living there.6. consider what you will need to do beyond #5. so as to be able to populate the place with good tenants.7. meet with the lender (referred by family and or friends) and explain what you're proposing to do.

As for tenant population, I prefer professionals but you might like students...I have never evicted anyone, but I would have no qualms because there are plenty of rentals cheaper than mine and I try to screen out anyone who would be better off renting a cheaper place even though they think they would rather pay up for mine.