Not saying it isn't possible, but I feel like with all of those factors, flat on the year would equate to a crash.

The TSP can be rolled to any tax-deferred retirement plan.The other side of the equation is access to the TSP.  

That typically equates to break even or even a negative cash flow.

Rents are currently affordable and no vacancies for 2.5 years...Nathan is correct your rents are probably below market and should be raised.In regards to your reno I would base my decision on whether the 100K expense would increase the value of the property by 100K.Using your market cap rates applied to the potential rent increases does that equate to a 100K increase in value. 

Since, they wanted a realtors license number to start the process on their equator system.

What are "points", how does it alter the whole equation.

Part of the "low-cost house landlording" equation involves INSURANCE.

I think you have your sides of the equation confused with a buyer and a seller in foreclosure.

Put yourself into ur investors' and/or brokers' side of the equation...do for them what U would appreciate someone having done for yourself.  

The other part of the equation is actually getting a park funded and getting the owner's what they want in terms of Terms and sales price.