Also, make sure you can make it a legal u it, so you get the value of the added square feet. 

His management company services a large portion of the properties there and you will inevitably find someone who can connect you.

@David Lehane When you say "large" are you talking 100 units, 200, 300?

Wholesaling........I'd bet there are large companies who are compliant dealing in bulk property transfers, I'm just as certain that small fries who try to assign purchase contracts are not compliant with various laws, not just licensing laws.

Tell them that it's been replaced X amount of times and you're going to repair it again but if it's damaged it will be added to that months rent to repair it.

So the first home purchase is scary but I think if your planning on living there for at least a few years you are more likely to do better purchasing it today than later.If you were purchasing this primarily as an investment my advice would be a little different such as do not pay retail, consider house hacking, your mortgage to expected rent is to tight to be cash positive with maintenance, vacancy, and cap expense added, evaluate exit strategies, etc. 

I have heard that I need to lay aside at least 1,000/mo in ads in order to get enough deals.

The reality is, investing in private investment opportunities is how a large percentage of the rich get rich and stay rich.

I'm certain this is a good deal but I'm a bit apprehensive because, for 1) its outside of my Houston area Market so overseeing a rehab would be quite difficult 2) With such a large home we would face some financial challenges with doing a complete remodel.

Worst case scenario is that this one of the  Frankensteins where it is half manufactured home, half stick construction added after the fact, and no one but hard money will touch it.