It's a great framework to get started from a tactical perspective. 

With a 203k Renovation loan, you can also finance in your payments if you are doing a major rehab. 

you can't really micromanage tenants.All you can do is create systems with some flexibility.Again, if you read how we charge our Processing Fees, they encourage the behavior we want, while discouraging (via fees) the behavior we do not want. 

So depending on what your investment goals are and what type of properties (Class A through C/D) and where in the city you want to buy, that can directly impact the level of stability one can find within the market here. 

Where buyers/tenants can view dozens of properties in a day to screen out less desirables then schedule with a real agent to see the home in person!

Depending on the type of commercial you want to get into my suggestion is to go work for a company that does commercial real estate as learning from people who do it and getting paid at the same time is not a bad strategy 

Sadly, there are quite a few people over 65 on the verge of losing all their retirement money they put into these guy's investments that are doing terribly while they both go start new ones.

I found that the land is zoned so I can't add a MH to it even though the realtor said it'd be no problem (': However I think it's still good opportunity in my location.

Do you recommend sticking with aluminum trim if I were to refinish wood?

Run the numbers you may do better long term or renting as a whole unit.