There is no lending de minimis federally for homes being sold by someone who did not live in, or inherit the home.John Ferdo maintains a list of rules for dealer's licenses which has no impact on lending rules, unless the titling authority in the state also does not allow unlicensed seller financing of titled manufactured homes.

Then you'll have no choice but to put the cost of that onto a credit card, and now all of a sudden you're back where you started in consumer debt, but with the added expense of a house to maintain.

One thing I would encourage you to do would be study a commercial appraisal to get a feel for how investors and lenders view commercial real estate.

Michael - congratulations on getting yourself prepared by studying online.  

I've been studying up on MFRE and SFR investing, analyzing deals I'm finding, and just want to get some feedback on a couple of items.

If it is a well maintained property, maybe 5% would be a decent estimate, but if the property is very old and hasn't been well maintained, maybe a 7 or 8% CapEx estimate would be more appropriate.

I will study those on line as well. 

I'd encourage you to learn what you can as far as the "how to's" go, but also decide at the start what type of values are important to you to maintain in this business and then chose to stand by those values moving forward.

I'm excited about getting started....I'm not gonna lie...I'm terrified because I don't know what I'm doing and anxious but I'm currently reading and studying about this business and learning so much.

Having to hold onto the house and pay those carrying costs, for longer, because you didn't study up on the FHA Flip Rule beforehand, and/or estimating the lower sales price because your pool of potential end-buyers is now significantly reduced once FHA buyers have been cut out.