For mobile homes, it often depends on whether the property is considered real estate (attached to land) or personal property (if it’s not).

." - Exactly it's a business and there's little grey area when PM is done correctly. 

I’m new to the rental business.

Rates and expectations vary depending on the relationship and the investor's comfort with risk.

I've gotten deals and formed partnerships through some very unorthodox connections over the years.To answer your question, it will always depend on the specifics of the deal in front of me but in general I'd still prefer value-add.

While personal loss is difficult and understandable, running a business that directly impacts property owners requires a contingency plan.

That being said, it can be the most satisfying and cash-flow-positive business around. 

If it's a QM you won't be able to close in a business entity like a LLC, although in some cases you can transfer into an LLC after closing.

It also depends on all the other policies.

I don't Atlanta is too landlord friendly and the demographics shift it harder to do business everyday.