As the HOA should take care of most of the external Cap Ex items.

It does concern me that I can't walk through the property but I've tried to factor that into my offer. 

Even with the professional camera, I think an external flash goes a long way in making the space seem brighter and clearer.I sometimes use a smartphone for tight spaces which are harder to capture with the lenses I have on my professional camera.

A big factor for this approach was that we were heading in the housing bubble and the numbers no longer seemed to make sense to us so we stopped buying.  

I can tell you that the office building is the most work by a factor of 10.  

Until you factor in opportunity costs as you'd have to pass on potentially great deals because you've tied up your cash in 1 deal.

@Joel M.The key isn't just that its a 30k home - its what other important factors are specific to the property to make it a decent deal or not.

So I imagine that factors into your calculations.

While the first cost to get in mobiles may be lower, the longer term numbers may not be as impressive factoring in appreciation.

If you factor in closing costs it might be 3 years to start showing your benefits of a refi