Now, from reading the boards for the past few days, I realize that many of you probably are *tsk* *tsk*ing me about taking on such a complex project for my first investment purchase but I purchased the property along with several relatives who implied that they were experienced investors due to their longstanding ownership of single-family houses.

Implying I am glad there are doctors who work at medical schools teaching other doctors how to perform medical procedures.

This can be problematic as it can put the buyers brokerage into (implied agency) with the seller as they have to tow the line between ministerial acts and those that can be considered to form a client relationship.

But this article seems to imply it's not so a bit confused. https://finance.zacks.com/capi...Good point about the depreciation recapture rate (25%?)

I believe you also imply that the REI holds the benefit of spinning off some instant income but only a gambler would spend this as free income and not pay off these properties.

It's implied.

"Asking rents have fallen at a lower rate, but this just implies further room to fall down the road if conditions do not improve soon."

Times are changing, and the smart operator will learn what they need to know and change with the times.None of this is meant to imply that people should give up financing manufactured homes, because they shouldn't.

If buyer does not purchase title insurance, buyer will receive a Quitclaim Deed or equivalent, with no express or implied warranties of title.If the property is owner occupied, you are responsible for ejecting them after the sale.This can be tough to do.When you bid, you may be bidding against the seller, as they reserve the right to do this, on behalf of the bank.  

I'm by no means suggesting this or implying it's even possible, I'm only pointing it out as a theoretical matter of fact.