When buying a $100k property in those markets your risk should be relatively low as again you are hitting the higher end of rental price points.

My other concern is cap rates are relatively low between 6% and 8% max (cash on cash). 

Do you not have any relatives, friends, or reliable handyman nearby that would either handle it or contact you? 

Related question: anyone getting fixed APR on portfolio loans?

A tenant has indicated she wants out of her lease early due to her mother's failing health. 

Do your relatives want to be equity partners or just the lenders?

@Nick TzenevrakisTo answer your question about accounts - if you're buying the property in your name, technically you don't need any separate bank accounts.However, I would highly recommend you set up at least a separate checking account to manage everything related to real estate.

Typically if the parks are kept in good shape and you pro-actively build a relationship with zoning/dept of health you should see fewer issues. 

The home needed relatively significant renovations which is what we wanted in a first property.

I love that you saw an opportunity to both help your relatives and create some multi-generational wealth.