To be more specific about what i'm looking to do: My 1-2 year goal is to employ the BRRRR strategy with SFHs and Condos by buying distressed / highly undervalued properties that need work (preferably all-cash) in low crime areas with strong rental demand, renovate them within budget (again preferably all-cash) and get them rent ready before refinancing them at the highest ARV possible.

@Kwanza P.Leveraged means using a loan (leverage) to buy the asset. 

For example, if you buy a home for 100k, and then improve the property and now it is worth 200k. 

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I think with the time you’ll spend working on this, you could find 2-3 existing parks to buy in the meantime and not need to take anywhere near the same risk  

Buy your next property with all cash, fix it up with cash, and then do a cash-out refinance afterward.

I was living abroad buying/selling real estate mostly land, and some land with structures.

It’s all about those margins, so once you get that walk-through done, focus on nailing down your numbers for rehab.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

I suggest you give him 10 days; if he is genuinely mentally unstable, he will melt down and might do something crazy like buy another cat.