@Matt Smith, cheaper houses in less stellar spots sometimes require more hands on work. 

Can/should I tell my buyer's agent to show me homes electronically (i.e. via Skype or phone video cam)?

SFR at around $100k and rents over $1,000 a month would put you in a good spot.  

Older properties also tend to have insufficient outlets for today's electronic lifestyles, so a rewire would be your opportunity to increase the number of receptacles (and circuits) in bedrooms and living rooms .... modern code will require that things like refrigerators and microwaves in the kitchen have independent circuits and that receptacles close to water (kitchen counters and bathrooms) are GFI protected. 

Licensing fees, mls, board, e&o insurance, general liability insurance, increased auto insurance, ce credits, electronic lockbox access etc.

Michael's answer is spot on. 

Or (2) I could get a equity loan (or HELOC) to remove the mobile home and replace it with a newer mobile home/modular home/stick built house, build a road to the house (dirt road now), and also put the infrastructure in for 2 RV spots (pads, electric, septic) and convert the property to a SFH (or is it MFH with RV spots?)

He is in a bad spot.

One thing that distinguishes top investors from the average Joe is a top investor can spot value where others do not. 

However, if they rack up $50K in credit card charges and have a house full of electronics, that stuff simply belongs to the family and the CC company has to write off the debt as uncollectable.