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Issues to think about are shared walls (if you're renting to nurses they need QUIET in their off hours), parking and how easy it is to get to/from work in your area.

By the way, the park is in Silsbee, TX and the house will be moved to another property in Silsbee.   

I have no units in South Park but 1) 3 of my 4 STR units had significantly higher vacancy than 20%.  

SpaceX now has a rocket testing center right outside of Waco, Amazon is currently building a huge distribution center in Waco, and BSR Surf Resort & Cable Park built the #1 wave pool and cable park in the world, making Waco an international surf and wakeboard destination.  

You could be a private investor for a house flipper, but then you would be the bank and I am not sure how that would sit with your faith.I would park the money in index funds if you can't do syndications just because you are restricting the possible use of your money in real estate.

I live in the Austin area and have one rental property in Cedar Park. 

But park anywhere near the Superdome and your car's windows will be smashed or you will be carjacked and possibly killed.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

My only fear is that they are trying to encompass any type of real estate whether it be trailer park, self storage, or long term rental.