A business plan is a worthwhile effort, because it helps you understand what you don't have figured out yet and other team members you will need.Happy to answer any specific questions, just PM me.Rich

If you want to learn, and its sounds like it would be a good idea, consider reading some books like Jake and Gino's Wheelbarrow Profit and Crushing it by Brian Murray.These would give you some head start understanding more about the different between residential and Commercial mfr. 

It's your investment and I can understand what it is like to have questions and not have them answered as soon as possible.

And yes i looked it up and understand what it means.

I understand that I cannot simply straight borrow from it, even if the terms are on par with the market.

I understand that leverage means more risk but at the same time more return on investment.

Sounds like you need to learn what the seller's situation is in order to understand the deal completely. 

I understand the 18102 zip code isn’t the best but do we see value 5-10 years down the road?

I understand that multi family properties are the better way to go, but can buying and holding condos for the long run be a good idea as well? 

Investors paying down a rental are the most extreme conservative investors and rarely understand how little their dead equity is actually earning.