It’s better to pass on a deal then to buy a bad one.  

All I know is I take take another year of feeling like somehow at the end of the year the government gets paid better by my small business than I do!!! 

I would much rather buy fewer deal that are better deals.

Hopefully, this gives you a good starting point for further research on which state is a better fit to getting you started.

They tend to be at least 7 acres and 10 is better.

I'm looking into some better guidance into tax planning and a new CPA as I grow my real estate business.   

I know this is pretty vague but I’m sure I’ll get better information from your experience than my uninformed assumptions. 

Now I am new to the real estate scene and I do have several questions that I want to mark off my list so I can get a better understanding on this.

Either rent it to a better tenant (screen better) or sell it and take the 30k loss, don't try to pawn a bad deal off on your friends and family.

If you can house hack in your local area, or even buy within driving distance (e.g. 2 hours) where you can check on your property you have better control instead of buying in an unknown area far away even if the numbers look good on paper.