aim for a good house, not a cheap house as it will attract lower quality tenants and cost you more in the long run.

If you buy it too low, in some jurisdictions they will call it "equity skimming" which is illegal.It can be very profitable, I've done many, but you really need to know what you are doing. on pre foreclosures on the West coast if you happen to do them legally .. the old owner is due 80% of the profit if you sell within 36 months.. so there is that.. but if your buying pre foreclosure for long term hold and wait out the 36 months then your fine. the reality these days is post GFC lenders/ banks/ servicers have realize that working with the buyer to reinstate recast redo the loans is far better than taking it all the way to foreclosure so your correct its usually the worse houses that make it all the way to the end and go to sale.thats why if you follow NODs  Notice of defaults or whatever they are call in your state. you see so many postponements and or removed or paid off etc.. so you hone in on one property do all this work only to have it not go  to sale  rarely are you going to buy a home that you really want LOL

I know what seller financing would involve in regards to me (the buyer) having to pay a interest rate set by the seller and the monthly payments also set by seller.But what are the benefits of seller financing a property?

From what I've seen, Jacksonville has attractive housing prices and rental rates.

When I help buyers in COS and they see $700+ HOA and I explain the land lease scenario they don't consider it an option.   

First of all it's very rare a seller gets a buyer's EMD deposit for buyer's financing falling thru.

COVID created a chaotic spike in both the sale & rental markets, attracting even more new real estate investors.

The buyer pool is beyond flakey..Your best bet is a local investor.

Your potential buyer suggesting you terminate the contract and them paying you a fee does sounds fishy to me.

With investing in MHPs you always need to think of who you’re end buyer would be.