The way you perceive yourself in your head is how eventually other people see you because the image in your head about yourself dictates how you present yourself.

The economics of mobile homes and financing for them also dictates a much lower demand for lots in my market.

I DOUBT IT.From attorneys talk is cheap and when they have to stand behind something they run.If it's not guarantee in writing you can't take it for face value.DIL the banks will do a title search and with no other junior liens will usually accept within about 60 to 90 days time.If the effect to the credit is the same or close the seller might be able to milk free rent longer with a short sale or a foreclosure or get cash for keys money.The sellers situation will dictate the best options for them and it's a case by case basis.

Raise rents periodically as the market dictates.

And I assume the monthly payments are pretty much dictated by what the buyer can pay (assuming it meets a minimum required to get your principal back in 12-18 months).So, how do you determine the interest rate and the number of payments?

Also check up and down the west coast you may find some markets that will appeal to you and your budget.when LA based people go searching out of state that usually means Turn key... and this can be a great way to get started.You want to get with a quality company from top to bottom however your success will be dictated long term by Property management and your choosing a property that is a pleasure for a property manager to manage and by that I mean.1. nicely rehabbed or in good shape already so they are not getting a bunch of maintenance calls.2.

That number is going to dictate what loan amount you can get.

So, make sure that you play some other roles in the deal that justify your compensation.Second, if you're looking to bring funds into the LP and take a fee/profit off of the top, you might want to consider creating a fund of funds, raising LP capital into your fund, and then deploying that capital into this deal and other deals.The structure of your fund will dictate what's returned to your investors versus what you keep, and there will be no commingling of funds that will make taxes complicated.  

There are many options, but your goals should dictate which action to take to take you closer to your goals. 

There really is no set value, it is usually dictated by your local market.