Look for views, seclusion, walkout basement potential, water feature potential- people love ponds, add trees, add boulders, multiple access or roadside properties, no zoning in Texas counties, check city zoning, location location, utility access.5.  

One property had its water heater stolen not once but twice as well as the furnace in the second attempt.

Choosing a professional restoration company seems really important, especially for damage like water, fire, or mold.

How are you all taking that first pool of opportunities and whittling it down to a manageable list to investigate further?

For a lender that may have to foreclose, its additional risk because the buyer pool for a nine-bedroom property in a residential area is very small

before you go down the rabbit hole to far as @Bruce Lynn mentioned see if the jurisdiction were the lots are located will even allow a surface operation within their zoning code or that lot size.. thats the first thing I would do.Being an old land man I have dealt with a ton of mineral and water rights.. there is a lot to those buggers..

Thank you for any input. 55+ will limit your pool and $75/mo cash flow is not a lot.

I'm told a permit is required to replace a water heater.

And of course, most homes have HOA's (homeowners associations) that can be $20-$250/month to pay for community maintenance, sometimes lawn care, cable/internet, amenity upkeep, pool, security etc. 

Extensions are likely granted, if needed.You will receive $3k relocation assistance at the end ( unless you have other liens, back due water/sewer/HOA etc. ) You can also stay in the home until the sale closes, which gives you at least a few months payment free to be able to figure out where you will relocate.