In this case the tenant happens to receive financial support from the government. 

Unless you're concerned about value for resell and/or debt refinancing, I think many prefer that sector of the market.  

Another plus for the area is that the two big employers in the area are government and health care.

Counties and states have different laws governing it but that seems off by quite a bit it could be a local law or it could be a mistake in that they assessed the land only and not the property as a whole, many times even if there is a law limiting increases in assessed value it resets when the property is sold.

Both of which are government subsidized like jobs. - We've been on the top charts for several years leading to our rapid growth and appreciation in prices and rents. - A long term theory - as the oceans rise from global temperatures rise, beach front property is going to become a bit less desirable.

@Matthew GrebetaI’ll take in to account the current economy, the people living there, and the future proposals from the local government as well.

Some types of medical over others that are more heavily relied on for government programs can be at greater risk than private payer customers. 

Would it be worth it for you to get your degree and maybe work in the private sector to gain one sort of experience (and possibly network) and switch over to real estate once you got that going.

Generally you need a survey, legal description, government approval and recorded deed change. 

The local government GIS website is also great.