This is because of the risk mentioned above, plus the process of the remodel is a pain and is worth compensation in the form of equity. 

Its a pain for the seller, but if you can handle all that - sure - live there. 

If you are defiantly not interested in that I would start trying to find sellers with a pain point that you can identify and try to solve their problem by buying there property (hopefully at a discount).

But, what are the continuing challenges that need attention; what is it like to rent in the area (plenty of rentals, tenants have lots to choose from), What do you love about Williamsport and what pains you; basically what is like to live in the area?

@Gary Baker  I feel your pain with lower amount to invest in IRA accounts and being kicked by stock market... 

In CA, that income from the 160k/year will disappear very quickly.I would consider thinking about your career path after military service and possibly secure a W2 job.  

One additional thing I feel is a real pain with these is that the borrower cannot always get the lower homestead property tax rate. 

HANO is a pain, though I hear they are getting more efficient.  

I think what @Mike McCarthy is saying is that EVEN if you HAVE an easement, the other party can simply not honor it and enforcing it can be a pain....we had an issue with an easement for access to move cattle...and sure you can get nasty..but that is how you end up with your cows being used for target practice....i.e. sometimes you can be right and it won't matter.

Also the money going to the mortgage doesn't all disappear like rent does a portion of it goes towards paying down the loan and building equity.