This allows new investors to gain experience while minimizing risk and maximizing returns right from the start. 

@Zach Denny - I agree - chances are the institutional lender won't be comfortable with an owner-financed 2nd and 100% combined loan to value.

To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.

When i was younger I used to help her with renovations on some of these properties.I asked her about 2 years ago why she never went multifamily and she said that she was afraid of stepping out of her comfort zone and wanted to stick with what she had known and done forever.

Depending on comfort and cash, it might be a viable option as you can build equity and then sell without having capital gains, assuming it's your primary residence and you've lived there for 2 years.

I suspect maximizing the investment might make it slightly less desirable as an owner or at least the renovations might have lower ROI if sold to a homeowner.

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!

Also (if you choose well), you are hiring a manager who has many more years of experience than you can ever hope to have, and will avoid rookie mistakes.The downside is that not everyone feels comfortable doing due diligence on sponsors.

Whether that's mobile home parks or any other kind of commercially valuated endeavor is a matter of personal comfort and preference.

Of course, all channels can work.. from seller financing to foreclosures.. but from my 30+ years in real estate, I’ve found focusing on cash flow analysis tends to pay off more reliably.So here’s the big question that might help steer your next steps.. what do you think would make landlording less stressful for you.. a property manager, or maybe a smaller property until you get more comfortable?