Newbie investor working on my first deal

[Daniel Infante]

Hello BP! This is my first post and I'm looking for some advice. I've done a lot of research on Lonnie Deals and have read many blogs from experienced investors in this niche and I'm interested in using this technique to propel myself out of the 'rat race' and into financial freedom.

I started browsing CL and found an MH(2/1) for sale, asking 8k. I have no investment capital at the moment so buying wasn't in the plans. My plan was to get in touch with the seller and see the home in order to prepare myself for the types of conversations and negotiations that take place doing these deals.

So I went to see the MH and it was in relatively fair condition. I established a good rapport with the seller and tried to gauge what type of seller he is or will become, i.e., motivated, desperate, patient, etc...
I threw out an offer of $1500 and asked him how close we can get to that number and the both of us be happy. He countered $7500 and then before I left brought it down to $7200. I told him I had to go over a few things with my partner, who does not exist, and I would get back to him with a final offer.

Before I left I picked up the Park Regulations book and in section 4 it explains that the Title owner must reside in the home. I talked to the park owner and he said that subleting is not allowed and that I would have to live in the home.

So my question is this: is there a way to owner finance this home to a tenant without being the Title owner of the home? If my tenants name is on the Title is he/she still obligated to pay me monthly rent or can they cease payments and get away with it?