My goal initially is to purchase an REO duplex, utilizing a VA loan, which will be my primary residence.

Initial signs point to these areas as being healthy opportunities as long as the right deals are found but it would be extremely helpful to hear more about the cash-flow opportunity (as population growth may be driving up prices), if this area was hot a few years ago and may be cooling down and any other market-specific aspects that I may be missing/not including in my research.Any feedback would be greatly appreciated!

@Michael John what you should consider is “can I turn $300k around into a more profitable property that will generate more than $2500/month”300k allows you to put 20% down on a $1.5M property.

I was on the panel for this publication which can give you some great insights - https://www.nap.edu/catalog/24863/generating-revenue-from-commercial-development-on-or-adjacent-to-airports   Also, see reports 114 (Thru the fence ops) and report 47 (Leasing airport property) available on the same site. 

Due to an all cash transaction, the initial risk is the deposit.

I apologize, I should've explained more in the initial post.

Running the numbers on STRs in Chicago, it seems like there is an opportunity to generate strong cashflow with minimal upfront investment by using this strategy, but I'm curious if anyone has on-the-ground experience with this type of model.  

I learned how to run FB ads for some entrepreneurial ventures, one of which includes generating leads my own cash deals for BRRRR or flips.  

As I'm sure you know, there's virtually no value in the MHs themselves, but a good deal of value in the cash flow they can generate. 

The property is newly renovated pretty  much all around.New floors, kitchens, bathrooms, paint and trim, 2 carrier ac units, new furnace, 2 water heaters, split electric and gas.Natural gas, pub water and sewer.I will be wrapping closing costs into the mortgage.Ideally, this will be my first home so I will be using this for initially a house Hack, but planning on adding 1 master sweet with walk in closet and bathroom over the empty space above the garage.I was just toying with the numbers to see when we move out if this will make money monthly.