I will do my best to summarize and comment on everything as it is proposed and or/or passed. 

I think you summarized pretty well.

I know I'm going to have set backs at some point, but to mitigate that I'm asking questions here, and trying to get some pointers before I just jump off the cliff ;)But, to summarize what you're saying, you're advice is to stay away from MHs because the profit doesn't outweigh the work?

Here's why (and apologies if this is too Excel geeky):If you do your own bookkeeping in something like QB, and can't easily import transactions, then entering them individually is a pain - especially with multiple cards/jobs, and if you want to track your expenditures at a more detailed level like Drywall, HVAC, framing, etc.Dumping the transactions to Excel allows you to pivot the data by data elements like Month, Job, Department, so that you can generate a summarized journal entry which can then be entered into QB once - you just need to keep the detailed data somewhere accessible for backup.Example:If I pivot my home depot detailed data for March 2015 I see that I had expenditures for one job for the following departments: BLDG.

I will definitely try to find the 6 best comps for the place and I especially like Ramon's idea for the list of work completed on the place for the appraiser, I think that would help summarize the large amount of work that was done recently.

Banks send me a 1099 of the mortgage payments, summarizing the interest paid, principal pay down, bills paid via escrow such as insurance, and the outstanding escrow.

Below is the summarized process i follow... - Do my online/offline marketing- Seller responds to marketing- Seller and i go over property features and maintenance issue- Seller communicates asking price (ex $99,999)- I haven't worked out the numbers so i tell the seller i'll get back to them- I figure out the comps; i find similar properties near the property i'm interested in and look at what they sold for.- The property needs repairs. 

Check out this link regarding guru programs, Gregg.http://www.biggerpockets.com/renewsblog/2014/05/17/dirty-truth-guru-programs/To summarize, all these programs work, but it doesn't mean the one you paid for will work for you.

To summarize, the only way to make this situation work out with an investment property is with creative financing as you stated with the portfolio lenders, hard money lenders, etc.

I'll summarize here what I know (and what I still don't), but also feel free to message me.