At first thought, the land only seems to be the better option as maintenance seems like it would eat your cash flow up on MH repairs, as opposed to just collecting a rent check for the "land lease" essentially. 

These were largely sourced pre-CV19, so eat the fish and spit out the bones.The DTI percentage range varies by lender, and is less than what you will find for an owner occupied property, due to lender risk.

(Ended up eating about 6o days of no paid rent so really not that bad after the security deposit.)

@Ryan Moyer I like a lot of meat on the bone if I’m going to eat.

The main reason behind this increased consideration of key principles is that too many part-time investors are getting into real estate investing and lenders don’t want to take on heavy risks.Some of these key principles are:Have local multifamily experienceOwn a 5+ unit deal for at least 5 yearsOwn two or more 5+ unit deals for eat least 2 yearsHave a net worth more than or equal to the loan amountI got goosebumps when I learnt of it because my parents always used to tell me about the pitfall of partnering up with people.

Taxes eat you alive when you work OT for someone else. 

My husband suggest we purchase a condo but I'm scared of the fees that may eat up my profit.

Joe the Plumber comes out to fix the toilet, and the PM marks it up 50% as an added profit center and withholds it from your monthly proceeds.So "what percentage of rents the PM is taking" is really only a part of the picture, and might only be a small part of the revenue pie that they are eating.  

Obviously, that will eat into your savings, but it sounds like you can afford a few of those and start a nice portfolio!

The only downsides of this are 1] if your existing income can't cover the new, higher, payment, you will have to eat some of your see corn every month, but with rates the way they are today that's a relatively low cost. 2] A more pressing risk is that all that cash in the bank will burn a hole in your pocket and you'll feel pressure to buy a sub par rental just to get your money in the game.