But nowadays, it often seems that's all there is in the way of new blood in the field.

@Nicholas WhelpleyTo assess a property's potential beyond the 1% rule, consider factors like cash flow, market trends, income streams, house hacking benefits, risk management, long-term vision, and professional advice.

Income approaches (direct cap) are most relied upon in MH parks because the buyer is buying them as an investment and its the income stream that you are essentially buying.

My wife and I have a simple goal of having a long-term mostly passive income stream for retirement.When I do finally manage to get a loan, I probably won't be worried about the mortgage. 

I think they're selling a revenue stream for themselves. 

A buddy of mine used Prop Stream and seemed to like it.   

While the obvious caveat to this is a slightly higher purchase price (if you choose to do so), there are a variety of benefits to this strategy as well, such as:- The idea of getting a Lump Sum Payday (from the bank) AND a steady stream of Passive Income from you as an investor for the downpayment is incentivizing to most. - If the seller is desperate to close (due to health issues, family problems, liens, etc.), they may agree to Seller Finance the small amount in order to ensure the deal makes it to the closing table. - You're minimizing how much is coming out of pocket when closing arrives. 

If I am literally legal bound in fealty to my seller, well, what do you expect, I'm going for blood, ALL the blood, every last drop of it....

This likely will vary by state.I do agree with you there is some definite potential to this approach especially for buyers with high incomes (and high tax rates) and looking for post retirement income streams.

If you plan your expenses properly the income you get from your properties will cash flow for decades and that is money you can reinvest into stocks if you want but it is a stream that is ongoing and you can pass down if you want.