I want a good debate here, not a weak argument.

See what your strong points are if you don't mind doing the work yourself and see what your weak points are that is where you may want to consider hiring a General Contractor.

Or anyone see any advantages or weaknesses with this approach?

(The instructor for the course I took was strong on appraising but very, very, weak at his understanding of manufactured homes.)In most states, the qualification for appraising a manufactured home comes from passing the course if the home is treated as chattel rather than real estate.

My biggest draw to using RRSP money is that I know more people with large RRSP accounts (that are probably giving a pretty weak return) and not so many people with large amounts of cash.

The loan stays in your personal name and so does the liability that is affecting your DTI.The asset protection here is weak at best.

The contractors are the weak link here in AVL- so many people are doing exactly what I'm doing, or flipping, that it's hard to get a contractor to even show up.  :(    I'm happy to hear from anyone with good advice, and happy to share my contractor list, and my realtor, who is stone-cold awesome and specializes in working for investors in the Asheville area. 

Since people generally stay in these markets for the long-term it keeps sales values high and they tend to have a relatively weak rental market. 

They have insight on your personality, talents and weaknesses which is essential for the life planning advice you are seeking. 

All exterior outlets and outlets within six feet of a water source should be GFCI protected.The bathroom exhaust fan was loud and should be serviced or replaced soon.Alarms and DetectorsThere were no carbon monoxide detectors in the home and one should be installed within 15 feet of every bedroom.InteriorSeveral windows were quite weathered and wornThe glazing was cracking om most windowsSeveral windows had weak or failing sash supportsThe left side rear window did not close properlyThere were previous moisture stains on the right rear bedroom ceiling that were dry at time of inspection, but should be monitored for action.