In addition to a voucher, we require that the tenant be able to show income at least 1.5 time the monthly rent, as opposed to our regular tenants who must show 3.5 time monthly rent.

If rates DO come down in the future you can consider refinancing, but don't forget there are costs associated with that as well.

After overcoming a few months of analysis paralysis, I finally took the plunge.

I am also working with a real estate agent for more than a month now, and had sign agreement with them until November.

you want to stick to 6-24 month terms 

Yes, there are many free resources out there, but books are one of many low-cost educational pieces that pretty much everyone agrees are worth the cost.Happy reading! 

How much is he paying you monthly to use your land?

That being said there are also bad deals in any area, here included.I would run your numbers based on historical data from airbnb - pretty easy to check on airdna or even just going in the airbnb app and seeing not only what nightly rates look like for certain properties but what their occupancy is - from there you can estimate monthly revenue with a reasonable degree of accuracy and see if that lines up with your targeted returns.

If your cash flow can't cover property expenses and/or you have difficulty keeping a tenant there for long, are you comfortable taking on the monthly payments with the car loan?

Keep in mind, this entire process could potentially take a few months.