Investing in Mobile Homes (i.e. Lonnie Deals) using Land Contract or Lease Option

[Brian Parsons]

I know I want to start out investing my self directed IRA in Mobile Homes (i.e. the Lonnie Deals), and at first it looked like I wasn't going to be able to do it because of SAFE act in Indiana (That's where I want to do this investing). However after further digging, it looks as though I can somewhat do a seller finance through either a land contract or a lease with option to buy (Seems kind of like a back door way of doing seller financing without having to have the mortgage loan originator license):

http://www.indianarealtors.com/Uploads/Indiana_Realtor_Advocate/Legal_Hotline_SAFE_8-6-2010.1.pdf

So, that said I'm going back and forth on which route I want to go. I'll note that I haven't done anything in real estate investing yet and this will be my first leap in this arena. That said, I'd really prefer my first investment be as hands off as I can get it in that I don't have to have a property manager or be the responsible party to get the plumbers/electricians/etc. there when the buyers need them. I think under a land contract there is language that specifies that the buyers in the contract are the responsible party for that aspect. Under the lease route wouldn't that responsibility fall under the landlord (me)? Or is it that I can have that language put in a lease option contract as well?

Any guidance on the pros and cons of each route and which might be the better route for me as someone who's never done an investment .... yet.