They all voiced concern about the condition of the property.

Not sure BoA is only bank to screw this up, but sure speaks volumes about large banks and their lack of personal concern or attention to detail.

It's best to try to find contractors who specialize in working with mobile homes.

I get long term tenants and don't concern myself with the "rules".

Take notes on matters concerning real estate sales, disputes.While you're there, ask for business cards of attorneys that seem skillful (but only ask in hall area).Day three: you now know more that you did on day zero.

*I will be doing some repairs (good will, some are "unnecessary" but I like to get things in order to keep a good tenant HAPPY, and to dissolve their concerns about a scary new owner)... so, after the repairs are completed, should I do another walk-through with them in order to have an updated move-in sheet?

I am not sure if this is something that I should be concerned about.

I can be mobile to all the markets, don't have to worry about establishing different teams in each spot, and it's just totally hands-off and carefree.

Personally, I think I would rent it out and perhaps try to do a "lease option" to get a little more rent and transfer the maintenance concerns over to the tenant.

I plan on holding on to them, however I am concerned that any downward movement in the RE market would limit people's ability to sell and thereby increasing the amount of available rental properties.