What you're trying to avoid are those folks who haven't paid their cell phone bills, cable, internet and on and on (the record I got was someone with...150...yes, 150 accounts in collections!).

Sometimes I can look at the name on the appraisal and know it's one of our dudes that gets things in same-day, but I wouldn't bet on that for VA.Closing Disclosure needs to be issued / re-issued.

At the vary lest you should pan on having some cash reserves if something major comes up.While at that price you may be in neighborhoods that have the potential to appreciate, I bet your actual cash flow is less that the $450 a month you project.

Lots of great internet resources.  

You bet.

We do not plan on living here for 30 years and I know not to bet on appreciation so I will do some value add to the house over time and expand it to a 4 bed 2.5 bath with less than a 40k investment, the layout will support it.

Woodcroft is always a safe bet but many of the houses are a dark/rustic style that is hard to update. 

Is the best bet to turn my back to all of the properties listed, and ignore them?

From my internet reading, FHA does mixed used financing with commercial space in the property up to 49%.

Get some education before betting your life savings.