Covering this with my salary is relatively comfortable.  

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.

@Zach Denny - I agree - chances are the institutional lender won't be comfortable with an owner-financed 2nd and 100% combined loan to value.

Of course, there's no perfect right or wrong answer, it will be different for all but make sure you do what is comfortable for you and what fits your goals. 

Here’s the situation (personal details removed):The tenant reached out explaining that they’re going through financial difficulties due to an ongoing divorce and lack of child support.

Originally posted by Account Closed:Yeah I guess there is no arguing with most of you on here as I guess you just don't care about the lower / fixed income families that are living comfortable in their manufactured homes.

I would only recommend moving on this if you are comfortable owning it for the long term.

Of course, all channels can work.. from seller financing to foreclosures.. but from my 30+ years in real estate, I’ve found focusing on cash flow analysis tends to pay off more reliably.So here’s the big question that might help steer your next steps.. what do you think would make landlording less stressful for you.. a property manager, or maybe a smaller property until you get more comfortable?

When i was younger I used to help her with renovations on some of these properties.I asked her about 2 years ago why she never went multifamily and she said that she was afraid of stepping out of her comfort zone and wanted to stick with what she had known and done forever.

Whether you need a CPA with just three rentals depends on the complexity of your situation and your comfort level with DIY tax prep.If things are pretty straightforward, you might be fine with tax software for now.