I will also quickly echo @James Carlson I feel a comeback this summer as well, I am really anticipating a bit of a buyers frenzy come summer and the PCS season here.

Even with the additional $10K in repairs you would be around a 20-22% ROI.If you chose to sell and flip a property in Phoenix, what would your anticipated profit be?  

We are seeing appraisals come in low as of lately (this varies per market, but generally lower than anticipated). 

As you already anticipate. 

Engineering firms perform cost segregation studies.With the cost of Cost segregation studies coming down in recent years, it has made more sense to also apply them to lower cost properties.You should get a cost segregation study done if you anticipate that it will benefit you now or in the near future

We decided that the upkeep of this old home would be much more of a headache (for it being a rental) than we anticipated or wanted to deal with and ended up selling the home as a fix and flip, making money off the deal!

Projects like Gateway Jax, which is a development anticipated to cost nearly $2 billion, provide evidence of this expansion by showcasing the city's robust economy and the confidence investors have in its real estate market.

You can offer him 10k in 2 years in anticipation of appreciation but don't feel bad if he turns down your over generous offer.

Would it be best to establish additional savings accounts to hold deductions from my anticipated operating expenses (management, maintenance, misc)?

So far here are my anticipated costs and anticipated return. $33,000 - lot purchase price$6,000 - 2010 3 bed 2 bath manufactured home$3,000 - transportation $11,000 - set up costs (includes running city utilities to the home, decking, skirting, foundation)$6,000 - repair costs$5,000 - misc$64,000 all inRecent comps show we can sell for $140,000.