"manufactured homes" yes previously known as mobile homes, but they have advanced tremendously in the last few years. 

We keep telling ourselves "this is the last one" then decide to do it again.

Are all the AC units new/er or are they all on their last leg. 

You should have all the contracts readily at your disposal. having been an agent for 2 years already, it's really concerning that you wouldn't readily know the contracts for such as of yet, so I have to assume you have done exceptionally little the last 2 years. 

If I have to buy a last-minute ticket or spend $1,000 or so for notarized signatures at a consulate, then it has a significant effect on my choices.

Ask when they last requested a rent increase, what the request was and whether or not it was accepted.

I looked at Sapphire pretty hard last year, and made a couple of offers there, but in the end decided it wasn't the market for me.

If the insulation is in decent shape and not covered by combustible insulation, and not terribly overloaded, it might last many more years.

Then bought my own deal the following year 37.7k sq ft warehouse on 4 acres in Plano.Been buying industrial for last 6 years.I think your plan is right, I'm a big proponent of joint venturing on commercial deals.

So in my mind it would be best used as a last move into a REIT you never sell.