So it's not a "lowball" offer.A common mistake I see is new investors making true "lowball" offers on retail properties that command retail prices.I wrote a blog that might help you find an agent in the area.

I have been, so far, disappointed with the work and pay that I have been able to command with my education in this market.

You may not be able to command higher rents for the best house on the block as the location impacts rents.Now, if you found a nice neighborhood where one home was damaged or say an old home where newer homes have been built around it (common where farms were sold for development and the old house was left) you may have a micro re-development opportunity.

@Nixon VayupakI agree with @Jay Hinrichs - the risk reward is too great - and the ARV you were given may be spot on  - small towns like that so far away from a population center just do not command much if any in regards to RE prices or rent for that matter.  

If your location has multiple attributes that are key that other sites do not have the franchisee will be more forced to give in to your demands.At the end of the day as a developer you are looking to eventually sell off the income stream so the lease and guarantee is very important for commanded cap rate.

certainly not a 3BR that would easily command $2k / week.  

@Steven Diebold Modular or pre-fab homes will command the same value as stick built or site built homes.

If my house is worth 600k,  I can command 6k rent? 

Because my wife works long hours she's a commander.

These units are commanding roughly $1000/sf with fairly basic finishes starts at $489,000 each.Does anyone have successful experience with converting these historical buildings into smaller units to maximize returns?