Seller Financing, Lease Options or Contract for Deed?

[Sandy Uhlmann]

I would like to begin purchasing, rehabbing and then selling mobile homes.  Initially, my plan was to create a note and owner finance to the buyer.  I am getting the idea that because mobile homes are not treated the same way as stick built/site homes that this is not a viable option?

I am looking at what options are available to me as I really don't want to be a landlord.  Ideally, it would be nice if I could avoid foreclosing in the event of a default.  Does this leave out conventional seller financing? I guess seller financing leaves me vulnerable to Dodd Frank rules where I would eventually need to find an RMLO?  How does everyone else deal with Dodd Frank?

I am also looking at lease options as an alternative method to essentially owner finance the mobile homes to buyers.  Are there pros and cons to this method also?  Does lease option avoid Dodd Frank?

Are any mobile homes sold as Contract For Deeds where the deed is not transferred until the obligations are met?

Sorry for the myriad of questions.  My mind is just swimming with the "how to" of it all.

Thanks in advance for chiming in!

Sandy