Conventional you can do as low as 5% down but thats only for 1 unit property 2-4 unit properties will require any where from 15-25% down payment.FHA will allow you to purchase with 3.5% on 1-4 units however FHA has its own hurdles when you get to 3-4 units (these dont apply to 1-2 units) there is a rule called the SS or self sufficiency rule which requires 75% of gross rental income of all units to be > the monthly PITI in order to qualify.

It's up to the tenant to ensure they have sufficient funds, if a Cozy payment fails or a check bounces I then charge the tenant a fee (assuming this causes it to be late).If you're really concerned you can take what @Jonathan Cope does one step further and require payments on, say, the 25th in your lease.

I sleep very well at night with 0% leverage!

Most expensive route of course as you are paying them by the hour, but I learned a great deal and am now self sufficient and they've been tremendously helpful in giving me birds eye view of what I need to fix and focus on next. 

(I hate empty units too, but we're also pretty fussy and we end up with loyal long-term tenants so...that helps me sleep lol).Contractors, I can't recommend anyone just yet...but I have a pretty major reno coming up on the east side, I'll let you know how that works out.

Also be aware some commercial lenders require you to have sufficient liquidity after you purchase the property.For example, Freddie Mac/Fannie Mae require enough cash for like 6 to 9 months of mortgage payments.

I know I could probably go hard money but my concern is being able to refi into a normal bank loan within 6-12 months because I'm certain my equity won't be sufficient by then, even if I'm reinvesting all profits, and especially since the payments will be interest only. 

Account Closed As mentioned above, the usage of a room, whether day use or overnight, isn't always about sleeping and relaxation realistically.

You gave them sufficient warning, they know the home is no longer vacant.

I've been evaluating a mobile home park with about 1/10 acre of land per pad.  Is this a typical amount of land a resident would expect?