I guess no one strategy fits all so will be very nice to hear everyone's story and learn from each other.

If you are able to make it work and it fits into your lifestyle.

I've finally found a property that could be a good fit for my primary residence- if I can get a good price on it.  

It is dependent on you and what you think would fit best for you.

Here’s what I have so far:Downtown San Antonio (78205)King William Historic District (78204)Pearl District (78215)Alamo Heights (78209)Southtown (78210)Leon Valley (78238)Stone Oak (78258)Tobin Hill (78212)La Villita (78205)Helotes (78023)Heritage / Far West Side (78245)I just wanted a broad list to start with areas that could fit the bill.

Perhaps a modular home could fit the budget. 

I would start by finding areas you actually WANT to live and go from there.Picking a place to call home simply because it has a real estate market that you feel will fit your goals is a great way to end up miserable. 

I'd think it would be a better fit for seniors. 

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A HELOC or home equity loan on your personal home could be a viable option to fund the rehab, but it's always a good idea to chat with a lender to explore all your options and find the best fit for your situation.