Most QSR restaurant concepts and others tenants desire 3/4 to 1 acre plus usable parcels these days. it gives them lots of options with designs and layouts to maximize sales per foot.

Personal home insurance won't be an option unless you are also spending time at the property.

Wholesaler gets it under contract for $160K and has a 14 day option period (inspection period).

Small towns have more limited options on house availability, and if you land in a town with a single powerhouse buyer you can find yourself picking up the leftovers. one of the big benifits is that same ability to control the market, I get sellers who call direct knowing i have a house in their area.

Lots of options to explore.

You can also google NC Standard Residential Lease and will find very similar options.

As other people have said, 250k can get you many options for appreciation in nearby cities and out of state.

No DTIs... might be a good option if you are concerned about this variable 

One option is to rent out an RV (connect to plumbing and electric) and they live in your driveway. 

@Jordan Smith what is the difference between the licensed PM and the other option you mentioned.