One of the risks I see is that there may be a lot of deferred maintenance (you mentioned it was last updated about 20 years ago) and with this low rents of ~$400/month per unit including utilities, you may not have enough room to tackle significant short term capital improvements.

They can do a google search for stats and facts.Stop selling, stop acting like everything is easier than it actually is, and do the blocking and tackling of helping green and naïve investors.

"Mom and pop" investors aren't going anywhere no matter what they tell you, and you don't need to spend $20, $50, $100, or $1000 a month on some guru's course to learn that.Do a search on the forums and the BiggerPockets Blog for "hedge funds" and you'll find plenty of great discussion and fantastic articles that will prove to be helpful to you on the topic.Otherwise, your post tackles two different topics -- hedge funds pushing out investors and the fiscal cliff.

I still feel like I'm far too much of a rookie to tackle that hurdle yet.

To find deals you have to cold call and advertise yourself so why not offer an additional service to other investors on the deals you prospect, but don't wan't by listing them on the MLS and collecting $$$/ contacts.You could really tackle this anyway you wan't, but if your goal is to replace your income than REI will become your job and if REI is your job you are basically an agent without a certification.

Ok seriously it's late I'll try to tackle this tomorrow chow.

If anyone is interested or would like to tackle this MHP, I am more than willing to turn over all information I have to an interested party.

When you have more tools in your toolbox the more task you can tackle"Lets work together.

Once I am flush again and am ready to tackle the rehab I can always turn up the heat.I am really hoping that someone else here's going to come up with a great way to navigate this!

You must be 100% sure you have mastered your personal finances before you tackle a rental IMO, and you will know you have mastered personal finances when the money you need to invest accumulates in your bank account.