I do not know PL too much but I know it is the most popular for small unit count operators. 

Cash flow is positive although small (between $200-$1200 depending on number of units in the property) on properties that I bought mainly 2011 thru 2017 because of low buying prices and rents have gone up well.  

You might consider starting with a small property that fits your budget and gradually expanding your portfolio as you learn the ropes.

Our long term plan is to ease into real estate investing or being a small landlord with minimal headaches or complications.

I had to live in the property due to the FHA occupancy rules, so I had about an hour and 15 minute commute to work every day.I settled on Tilton (small town in central NH) because the property was right and it cash flowed very well, and was quite cheap (at the time... 240k), I could get the loan to get into the building and own 4 units.

If you are nearby, if you have ever been a pizza delivery person, maybe deliver a pizza to the wrong house that may or may not be the one being foreclosed on so atleast you can see inside a small portion. we used to just go knock on the door some folks would actually let you look around.

Indy can definitely fit both categories.....section 8 and small MF#3.

Obviously the ideal way would be to split the lots and rent the lots to mobile home owners but that seems like a very small market.

You will need to provide an explanation of the circumstances surrounding the BK every time you apply for credit, apply for a job, apply for a bank account, etc.Bottom line is if you’re working day labor type jobs for small companies and live on a cash basis it might not affect anything.  

I am such a novice and only just starting my small multifamily property investment... very "boring" compared to what you are doing!