They’re lucky it is still standing and I’d expect it to fall down any second. 

In your case I suggest a passive, low risk options like government backed CDs.good luck

I would first suggest getting a real estate lawyer in that area.Is there zoning in that municipality?

For it to be $250 MORE than usual, suggests something else is up. 

Many Realtors will suggest purchasing a property using a FHA Loan, to reduce your out of pocket money.

I suggest contacting an RE attorney who can assess your options.

I’m trying to understand:1.What makes a deal truly stand out in the San Diego market or any market?

I don't know anyone personally in Topeka, but the banks I'd suggest you reach out to first are CrossFirst, CoreFirst, and Emprise.

If the numbers aren't there yet, I'd suggest focus on growing your income, look into house hacking as previously suggested, or consider partnering with other investors who can qualify for the loans.

@Remington Lyman thanks for the suggestion!