The point I want to reinforce is expressed well in the old Russian proverb, "measure seven times, cut once." 

You can put performance measures in place to make the seller comfortable with this.Find a local MH expert to partner with, a local contractor who specializes in MH remodeling, and a local MH dealer if that is required in Indy.

What you're asking for in a partnership is almost impossible to measure. 

- In Miles, Hours Or however you would like to measure... - What was the FURTHEST distance you have bought an investment property from where you reside?

Here are delinquency rates for consumer loans (blue) and mortgages (red) with debt to disposable income thrown in for good measure. 

Also, if you do need to replace windows or doors, measure them to verify they are standard size that you can easily buy without having to special order all the windows and doors for the house as this will drive your costs up significantly (trust me).

If this was a property you were seriously considering, I'd call a local lender or two and ask for a rough estimate.I'd estimate about 15% for Capex + Repairs.Vacancy is a pretty subjective measure and depends on the person.

And then you can start implementing measures to ensure your tenants pay you and don't damage your property.Good luck!

@Sarah DawsonThe note market is not a clearly defined and measured market like residential real property.

Learn how to underwrite so you can measure expenses and profitability.