Are there any potential pitfalls Im missing?

(What's the difference between a MH Park and a just bunch of MH lots together, I don't know)Around this county, MH lots are gravel and a concrete pad is nigh unheard of.There are currently other new MH parks starting up in Walker county.I'm just curious as to the pitfalls of starting a "park" (or just a bunch of MH lots with power and water with meters) on my 4 acres.Obviously, I'll have to pay for the following:- any leveling of land, which is mostly level already- gravel drives from road and for lots- water run and metered to lots- electricity run and metered to lots- septic systems for each lotAny input like "DON'T DO IT!

The product offered is a bit higher interest rate but no PMI (which I have currently, for the life of the FHA loan), plus the heloc for the flexibility of paying off debts and paying down my mortgage balance...Anyone have any advice about this strategy or possibly the loan product, I am a new father of twins so I'm hoping to avoid any possible pitfalls while getting my feet wet with investing.Thank you all in advance for the help.Tom

One is new with not much experience or knowledge to offer or results to show, but they are full of excitement and seem motivated and the other person has made money doing this for himself/herself and can show results and can speak to the pitfalls they've learned to avoid and knows and understands the loan products, the markets they are in, and the cycles of RE.You have to put your 250k with one of them, which one you going with?

Also please add in any additional pitfalls to owner financing a house I might not be aware of.Thanks

The pitfalls you will have are working with the borrower for DIL or foreclosure.

You can always message me and I will be glad to give you the pitfalls that I have faced and yes there are some BUT it is way worth it!!

Originally posted by @Matt Avila:While I haven't seen one of these go badly on a personal level, I have been following several syndicators for the last 18-24 months, mainly learning as much as possible about the pitfalls.

What I can ad is, here are some pitfalls/factors to be aware of when making that decision and when evaluating specific PMs. 

Could you share your success stories and maybe some pitfalls to avoid?