Not enough income for lenders compared to what else is out there for themThe biggest thing is the lot but other factors like the actual manufactured unit being quality and up to code helps a lot. 

And you'll have a solid W-2 income to help you qualify for loans. 

Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

I have all the income and expenses.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.

As there are Californians still moving here, the vast majority are instead picking the states with low or no state income tax like Texas, Florida, or Tennessee.Although we still have a positive influx of people moving here, more people have been leaving due to rising housing costs in recent years.To put it in perspective, we saw around +45k in the 2010's.Overall, CO is basically a balanced net migration in recent years which is likely to keep home prices steady....

I don’t know if I should invest in the Jersey market and put maybe 20-50% down on something, make less cash flow and make more appreciation, or every two years or so maybe buy something fully cash (my own $) in the Midwest let’s say 5-10 units and make more cash flow with no debt as with the income I make I can just save and buy more, don’t necessarily need to leverage in some markets.

For example, I see newer investors attempting wholesaling or bird-dogging for other investors to generate additional income to invest.

We are not focused on the passive income at this time as both working W2.Questions:1.