Your approach is exactly who my wife and I started (except for the VA part).

There are exceptions to the rule but this is just what I've been witnessing based on who I talk to.   

FYI, the tenant would save $400 per month if they took our offer of $75K based on what they are paying for rent, they pay $900, and they cover their own utilities except water.  

They are in very good shape so I wouldn't be too worried about it except there is a tinyl back porch that I want to pull off and the windows need to be replaced.  

My long-term goal, besides building up a portfolio of rentals, is to establish a small to medium size property management company, where my wife and I can concentrate on giving exceptional service and individualized attention to our customers.

Unfortunately, very little went to sale/auction between 2009 and 2013 when I was out there, with the exception of 4plexes which were residential mortgages. 

The analysis showed the debt rising 6-12% every five year period since 1980 (with the exception of 1995-2000 when it fell 9%).

In practice, I dare say this is the exception rather than the rule.

I actually purchased Darrin Garman's Commercial Broker tool and I have had the same experience with this product.He claims to provide all these great ideas, but all he does is forward mini- "pep talks" and really not much substance on clear things to do except for a couple of hokey ideas about referral contents and giving lectures.

The acreage is findable anywhere in TX except downtown HOU, DAL, ATX and SAT.It sounds like $15K/acre, since "used' regardless of updates the MHs have they still have almost NO VALUE (see "Lonnie" deals).It sounds like your "exit" plan is to build something else on it, "in the future".