Take a look at some trade accounts and a line at the Big Blue and Big Orange if you are going to self manage.  

You're looking for increased cash flow, so managing more doors and/or strategically utilizing leverage can make a certain sense there...but as you mention financing costs aren't as rosy as they were 2-3 years ago. 

I'm structured and want to pursue something in real estate or money management.

They may feel a sense of entitlement, and they may not even be good renters.Unless this is some unique situation like a ranch that requires special skills to maintain the property, I recommend you remove the caretaker, spruce the place up, and put it on the market at market rates.I also recommend you look for a professional property manager that can help you navigate this immediately.

I have 2 boys and 2 girls.The girls are ideal money mangers and completely suited to managing properties and tenants whereas the guys are poor money managers and different very skill sets. 

how will they manage the property?

There are privately managed motels that do "ok" but their rates are DIRT CHEAP to be able to compete and their occupancy isn't even close. 

Hi Kevin, I'm an investor agent and property manager in the Huntsville AL area.

You can talk with someone at the VA regarding this, but you will likely need to ask for a manager a few times to get the answer.I havent assumed any VA loans so thats bit outside my knowledge set, but they should be able to answer your question fully.Did the prior owner live there for at least 1 year?

My name is Paul and I'm the Director of Marketing for Oakwood Management Company, the largest PM in Central Ohio and Columbus with 12K+ residential units under management.