Serge.I'd recommend bringing on a partner who was done these types of deals in the past and give them a large chuck of the equity in the deal.

Once that deal is complete, I'd like to make the jump over to real estate investing and really focusing in on creating passive (as much as possible) residual income.I have no personal debt other than my mortgage, and I plan to work while getting started with this investing.I'm very interested in mobile home parks, self storage, and any other similar types of investments.

You would need to look at your age and if doing estate type planning or general investing with the goal at some point to 1031 exchange into something else as a strategy.

The other one has less value add opportunity but the location made me go for it even with less value add opportunity (so it is ~$30K below market and cash flowing but not in bad enough condition to expect a rehab would return the type of profit I expect from a rehab: I typically want at least 50% return on the rehab investment. 

I work on any type of distressed list. 

You should also have a limit on the price and the type of deal you're looking for, are you looking for value add deals or just turn key?

please don't use service monkey. the use Java script and other types of tracking software.

I am wondering if anyone knows any loans that specializes in this type of construction?  

@Cesar Garza I do these types of sales.

Good call Jack.On every forum I post on, when I go through the posting history of anyone I have an issue with, I find a pattern of this type of stuff....You're totally right.