Because real estate always goes up and the maintenance fairy takes care of all repairs free of charge.Seems like a recipe for disaster. 

This would likely take coordination with a tenant at some point - (ie - plenty of notice to them that they must vacate in order for you to sell the property)Since your current home is free and clear -  you could do a cash out refi or take out a new mortgage on the new house to be able to buy your paren't house and pay off the mortgage.  

Start with BiggerPockets Ultimate Beginners Guide (free).

I looked at a few auctions  in the past, but they were cash only.Good luck!

Buy your next property with all cash, fix it up with cash, and then do a cash-out refinance afterward.

Google the term UBIT.Tom Wheelwright has a chapter on why you don't want to do this in his book Tax Free Wealth.

I'm terrified of doing all this research, finding a "dream" property, only for it to fail and negative cash flow. 

Inconsistent Cash FlowUnlike traditional jobs, real estate doesn’t provide steady paychecks.

If you're considering mobile homes, the first step is checking zoning laws and utility access since some areas have restrictions.For resources, Mobile Home University is a well-known starting point, and local mobile home dealers can offer insights on placement and financing.If mobile homes are allowed, you could either rent them yourself for higher returns but more management or rent out the lots for steady cash flow with less work.

“ cash flow returns” almost always compare horribly to a simple bank CD after you deduct for insurance, prop taxes< vacancy, capex, prop management (or your personal time.) etc etc etc.