I know that losing the shed isn't a problem, but are you covered for liability?

If your property is in service as a rental for three years or more, you lose the capital gain exclusion and the property becomes an investment rental.

You will not lose...it's like betting on green and green already came up.

The fact that you've overlooked them all in your analysis tells me you're probably not ready to take on a commercial property and it's probably a good thing that you don't have any "skin" to lose on this deal.If you're really set on this property though, you could always have another 20 minute chat with the owner about owner financing.

If they end up in a relationship you may lose them faster than you would with a 3/2 house.

I don't predict a positive outcome and I see many ways for you to lose money, get taken advantage of, etc.

Once anyone "interprets" it then it loses all the value.

If you raise the rent $150 all at once, you'll probably lose at least a few tenants.I would raise rent 25-50 when their lease expired.

I thought we had a deal closed and ended up losing it.

Way risky and a lot of people lose money doing this while a small few make out with the right timing.