Wholesaler gets it under contract for $160K and has a 14 day option period (inspection period).

Personal home insurance won't be an option unless you are also spending time at the property.

Most QSR restaurant concepts and others tenants desire 3/4 to 1 acre plus usable parcels these days. it gives them lots of options with designs and layouts to maximize sales per foot.

You can also google NC Standard Residential Lease and will find very similar options.

Lots of options to explore.

Seeking advice and financing options for an inheritance buyout of a mortgage-free property, where I am one of a handful of beneficiaries.

Small towns have more limited options on house availability, and if you land in a town with a single powerhouse buyer you can find yourself picking up the leftovers. one of the big benifits is that same ability to control the market, I get sellers who call direct knowing i have a house in their area.

@Jordan Smith what is the difference between the licensed PM and the other option you mentioned.

No DTIs... might be a good option if you are concerned about this variable 

As other people have said, 250k can get you many options for appreciation in nearby cities and out of state.