On one hand it may be a positive to have some income coming in from the remaining lease while we update the first unit.

My first bet of advise to you is to read Gary Keller's The Millionaire Real Estate Investor.

They could easily pay 50% two weeks early, then pay the other 50% on the first so they are always on time.

Do you have first-hand knowledge or experience with these businesses, or are you just looking to stir up trouble? 

Congrats on taking action to get this first property under your belt. 

I have to provide 5 times the documentation to get a house in my personal name.

You need a reserve to handle unexpected costs, particularly during the first 1-2 years of ownership and learning how to manage the property. 

Also, I like mentoring a few people interested at times, but find it very frustrating.

I want to note that there are additional lending guidelines that are required for these types of homes, and will highlight some of those key differences.So first, what’s a manufactured home?

Whichever came first.