His experience with commercial lending vs residential lending is the same as I've had.Of course it makes sense to shop around, but the commercial terms that you outlined are very normal and reasonable.On the surface, the numbers on the 4-unit sound very strong.

If you buy one of these homes, you should buy based on sales of similar homes in the area (and ideally pay less than what similar homes in the area are selling for).When you sell one of these homes, you will be able to sell it for around what similar homes in the area are selling for.Whether you are selling a modular home, a manufactured home, a single family home, a condo, a town home, or anything else, they trade based on the comps.So on the surface, yes a modular home will be more challenging to sell than a single family home. 

In my lease I have the following:(d) No spikes, adhesives, screws, hooks or nails, or the like may be driven into or applied to the walls or other surfaces without our prior written consent except that small nails may be used for hanging wall decorations.

On the surface it looks like a deal that would cash flow well. 

You will need to delaminate glossy surface faces with the abrasive side of a simple scrub sponge.

I enjoy learning about the lending side and are always new education lessons that surface which each loan.

Termite damage can be much worse than it appears on the surface... or not.   

Is it diversification, cash flow, to build wealth, quit a job, retire early, but a kid through college...Step 4: Get a surface level understanding of the various niches of REI.

The cheapest/quickest option would be to mix up some Quickcrete and pour it onto the existing sidewalk in an attempt to "level" the uneven surface.

I would do a hard surface in the entry.