This is where the substitution clause comes in, as I understand it.

Also, keeping an eye on zoning changes or upcoming developments can help you get ahead of the curve.Would love to hear more about your experiences too—what areas are you currently focusing on?

Typically lender will want to see first paycheck before you close.Maybe rent a room in a house hack (we have one coming up in Little Elm if you can make the drive) save some more money and buy a house. 

The gentleman Chris Koerner seemed well educated on the topic (mobile home park investing) and he gave enough information and follow-up documents that you could take the information and run.

@Victor YangWhy are you not reaching out to a NC real estate attorney to draw up a document that spells out the agreement that you are looking to do with the tenant?

Not realizing I was only getting a few hundred a month from it and from a cash-on-cash perspective I'd have been better off buying TBills with the click of a button instead of all the hard work, stress, time, and planning I put into it. 

High praise coming from you Steve.

A lot depends on the product.

Your responsibility is the DP, and the CF accumulates to pay you back the full amount of the DP. 

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.