Most of the stuff I'm looking at are SFH in the $75-100k range with $10-$30k worth of rehab. 

I know financing a mobile home with typical methods (conventional, DSCR) can be tough or entirely infeasible so way to get creative!

A reverse mortgage can be paid off, but the parents may have trouble obtaining financing as typically a reverse mortgage is received when borrowers have trouble making monthly payments and have little income but lots of equity.

Require a deposit that's at least the cost of a months worth of rent. 

A building is worth what the market is willing to pay for it - you are the market.

I spoke with several attorneys, and they all agreed my case was rock solid, but it wasn't worth their time.

Thanks a bunch @Sumit Sama Yes, I am.Dallas Fort Worth and Houston are top 2 Investor markets in Texas. 

Your time is worth money.Just look at everyone else and see what they are charging for similar places.

Viability: Is this type of project worth investing in, considering the potential returns and risks associated?

But when it's done, it's like having a special treasure that's worth a lot.So, it's kind of like picking between a quick adventure and a big, exciting one.