EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I don't see much danger here.

For example, you could find deals that have good long-term potential and buy enough money down so they throw off a bit of cashflow, but not so much equity that it limits your ability to scale.

But the house is only 10 years old, it's huge, it's in a decent area that's still being developed (Eastern East SF Bay Area), and it has the potential to earn us some money.Does the earning potential of the house make up for the headaches of renting in CA and having to pay a boatload of taxes on the equity when we eventually do sell?

How do you all handle annual increases to adjust for taxes and potential insurance hikes and would you have them sign a new MTM agreement or add an addendum? 

Even though the cashflow is negative now, would it make sense to hold the property for potential appreciation ? 

It also has the potential to be a B quadrant business and I quadrant investment (for those of you who know the cash flow quadrant).It's great to get training but make sure you trust the source.

Although if you are potentially moving in the next 3-6 months then that might not be the wisest strategy. 

BP just hits a small segment of the potential students that would be attracted to your program..

It's advisable to complete these repairs before buying the modular home for peace of mind and potential negotiation leverage with the seller.