This may not be a big deal to a rural based farming family, but it can be a big deal for a commuting family.  

Based on your original paragraph you need to raise rent and/or remodel so you can raise rents.

(This is all based on my anecdotal experience).

I'd be able to cover the loan payment based on what I'm typically offered for a housing allowance.

I've never had an issue splitting the utilities based on RUBS and getting paid after billing them quarterly.

You get paid based on how the contract you use say you get paid.  

Roman Cervantes Jr Your decision should be based on your incoming cash, current cash, and cash goals.

Assessors determine your property taxes.Your appraisal is based on similar styled and sized homes sold within the last 3-6 months (12 months max) within a 1/2 mile to 1 mile radius, and with similar amenities and lot size.

Touch base with a real estate agent and have her do comps for the house sight unseen.  

@Jarrett Winston Based on what you wrote, it sounds like you got a VA loan, which is supposed to be for buyers intending to owner-occupy their properties, and used it to purchase a single family house that you intend to rent.