So far besides a few books and a burning desire I am a complete novice to this.

Why ask: Live interaction provides an opportunity to gain immediate answers to burning questions and allows you to learn from experts in real-time.

Now that I am in position, I would like to place a mobile home to generate some passive income, but I don't want to use my savings for the down payment.

Its all about the heavy brush with Manzanita and other dense brush full of oils that burn so hot and fast.. thats why in many areas in CA they have control burns..

Recently decided, to invest in a mobile home park but sold at a loss.

Let's break down a realistic timeline for building your REI business without burning out or risking your day job.  

Unless the land is super valuable, probably not collateral for the mobile homes. 

The lot rent from the mobile home that will be on there will be roughly $400.

Quote from @Victor Correa: It’s Mobile Home with Land I’m taking over both land payment and Mobile Home payment and right as of now is considered personal property but you just open up my eyes and I’m thinking what we can do is convert into real property and then transfer the land and that way it’s attached to the land Your thoughts?

@Rehaan Khan Welcome to BP, great to hear your interest in mobile homes!