@Rachel Seymour-NewtonIf the smaller property is a strong deal with solid cash flow and tenant demand, it could make sense to buy now and start gaining experience.

Becoming familiar with how treasuries work also gives a lot of insight into how mortgage financing works because mortgage rates move with the 10-year treasury most of the time - so following the 10-year will give you insight into the real estate cycle as a side benefit. 

I've noticed that building strong relationships with both buyers and motivated sellers has been a big benefit.

Using a CA LLC owned by a WY LLC could preserve some benefits, like charging order protection, but doesn’t eliminate CA filing fees.

It's a great way to gain hands-on knowledge and connect with experienced investors!

It's not profit until you access it in some form of cash.I've seen investors loss properties with equity (a few with a lot of equity) because they can't sell at a price high enough to gain that equity, or because they can't refinance it due to the negative CF,...which would increase with a new mortgage.

Trailers don't go up in value like conventional houses.In my opinion to get the true benefits of buying mobile homes you want to own the land underneath them.

The $450K will be returned to me as payback of my loan to the intermediary, without trigger any capital gain taxes, right?

Plus looking to sell a property for her with over 100K equity after commissions, no capital gains tax .That new car smell with 6 miles.

First there is no reason to buy a Townhouse "all cash" instead put 40% down and reap the benefits of an extrenly low rate, No PMI and the option to escrow.