Don't have me mistaken, I did not say it NEVER happens, just look at @Tarl Yarber, it is just rare. 

Using HML will cost a lot more and you will still need HML if I'm not mistaken since most will only do 80% LTV so you'll need to come up with some funds anyway.

I have never dabbled in mobile home parks but I know that @Brandon Turner just bought on in Ohio if I am not mistaken.

These two worries are built on a foundation that a market correction may soon make properties in my area (Arlington, TX) more affordable.You can move that Ira into an Ira that can be used specifically for investing in property if I'm not mistaken.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

We stopped accepting money orders from her and she couldn't pay.One resident went completely dark on us and never returned any calls, never came to the office, and didn't show up in court.Another resident was under the mistaken belief that eviction moratorium meant rent amnesty, even though she had a job and saw no reduction in hours. 

However, after said conversion, I  eventually intend to evict the current tenant and convert the home back to MFH of (2) 2/1s.B--That's a great point about how I was mistakenly conflating values.

However, if I’m not mistaken, cap rates take these expenses into account, and cap rates under 10% just don’t look like good deals to me, in comparison to SFH returns (at least those I have access to).

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?