Specifically I am interested in investing in a $200k or less duplex that is no more than a 30-40 minute drive from Deer Park, TX, preferably in the Clear Lake/Webster area. 

That's personal preference.

Money mortgage (preferred way for the buyer).

I personally wouldn't want to purchase a property in an area with that high of an HOA, but that's more of a personal preference. 

I’d prefer not to pay the higher fees but I want the protection of an LLC.

Flood Insurace around here basically works like this:  if you are in an X zone, you can have a PRP prefered risk policy. 

Would love to share ideas, network and create a community of like minded individuals interested in mobile home parks.

I own a number of rentals in places I wouldn't prefer to live myself, but I do have tenants that pay the rent on time, and are content to live there.I fully agree with her approach to your question, though... in order for anybody to give a good answer, one must first understand your goals.  

As you can see by the gap, I'd prefer she buy me out. 

Its really personal preference.