As a landlord, I know the biggest headaches I face is when I have to turn and show a unit, so maybe catching one at that point will yield a deal from someone who is "sick of it"

If you don't have a local mentor find someone doing what you want to do that you really like and become their best friend and biggest supporter.

The only downside to this is you'll have a full month of pre-paid interest due at closing, but you're able to count that in your 6% seller assist at closing and have the seller pay that.

My biggest limiting factor was income as I was unemployed while still in school.

. :)Some downsides:- Can't "count" rental income projection when you buy it.

It's the biggest task I have on my plate for the upcoming years and I have somewhat of a plan, but still trying to figure out the best and most efficient way to get good used homes into m parks at an affordable price.  

Negative cash flow would be my biggest red flag on this deal, unless you have a strong plan to bring it to positive cash flow.

Interest rate shouldn't be the biggest concern, qualification and then terms (amortization, balloon, ARM or fixed) and then interest rate to back into profitability is the way I look at it.

Biggest piece of advice is to make sure the numbers work BOTH as a house hack and pure rental.

@Austin Montgomery, the interest portion is taxed as ordinary income, which is one of the downsides to lending or note investing, in my opinion.