My recommendation is to focus on Stick-Built, Brick & Mortar property versus Mobile/Manufactured, main reasons; 1) Investor appetite, 2) Appreciation factor, 3) Re-sell value, 4) Future buyer/investor appetite.

I’m based outside Houston, I bring over 14 years of managerial experience in chemical manufacturing to the table.

Unfortunately I haven't found much in that price range except for some manufactured homes.

With 1M in capital there are multiple options that can cash flow and with the influx of tech and manufacturing jobs into Reno the equity will grow at an above average rate. 

Before diving in, it's crucial to grasp the basic types of real estate investments:Residential Properties: Investing in homes where people live, ranging from single-family homes to multi-unit apartments.Commercial Real Estate: Involves properties used for business purposes, such as offices, retail spaces, and warehouses.Industrial Real Estate: Includes manufacturing buildings, storage units, and distribution centers.Land: Buying undeveloped land with the prospect of future development or resale.Step-by-Step Guide to Starting in Real Estate InvestingStep 1: Education and ResearchThe foundation of successful real estate investing lies in understanding market trends, property valuation, and the economic factors influencing real estate prices.

Close to CA, tech and manufacturing job growth, 4th lowest property taxes that don't reassess on the sale, and no state income tax. 

That will determine parking, access into doors, outside storage, etc.Get the Building manufacturer or construction company to do the building prints and not an independent engineer. 

Note: I believe they call out "manufactured home" separate of "the property" not because this form only deals with manufactured homes but because a manufactured home on land but not on a permanent foundation is considered a separate piece of real estate form the land.

Healthcare, banking, farming, and  manufacturing are our big industries.

If you're using regression to predict how much a market would appreciate by I think that would be a much easier regression task then predicting how inflation would increase the price of a gut rehab (increased parts and labor prices due to increased cost of manufacturing and increased cost of living respectively).