I don't know where your particular property is in Kansas, but small towns are fine IF one of these things is happening:1)  You're close enough to a major city where they're pulling your values up with them. 

Why take on a major headache and liability when it’s the sellers responsibility?

Facebook marketing to this demographic could produce returns, but it isn't too effective because the majority of those home owners are not on Facebook actively.

Always use a warranty deed to avoid any issues with the tittle insurance when transferring tittle.Also, Ive recently learned Fannie Mae allows transfer of tittle to an LLC without accelerating the note...Fannie updated their servicing guide to state:Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:· A transfer of the property to a limited liability company (LLC), provided that § the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).

I am just not sure how others have made that feasible (in the majority of instances, at least).

By majority owner?

I'm currently finishing my degree in Supply Chain Management and I am considering double majoring and adding Commercial Real Estate. 

@Champagne Goldston, you should absolutely ask for the last 12 months of expenses and any major repairs / CapEx items that were done as long as the seller has owned the property. 

This is a tool that is used to quickly analyze profitable deals just like the one you have described.Keep in mind; A large majority of lenders are hesitant, or will not, lend money on land, let alone construction costs associated with a "tiny" home.If you were considering using a VA loan (based on your profile picture) forget it. 

You're still somewhat close to major freeways and close to inside the loop.