As for an attorney for closings, not sure why you would need that, but if you're looking for them, some title companies are actually run by attorneys who specialize in real estate and that might help you feel more comfortable.

A few years wiser than when I first started, and fully aware of how green (or not) the grass is on both sides of the professional fence.Oh, and…for fun I run.

He has agreed to be willing to do a land contract/seller finance, but the issue Im running into is that he still has a mortgage on the property.

In perhaps 5 years, you are less of a guy who buys and manages houses to a guy who runs a RE investing company.

He also runs his own reia, he's a great contact and resource.

A home inspector will run me another $300, not to mention closing costs and approx. cost of 4k for paint carpet and landscaping.What does everyone think?

I was spending so much time running others stuff I couldn't focus on mine.

Combined with the other forums and podcasts out there you can spend a few weeks getting familiar with all this to make a good decision.But the short answer to you question is no - I would not buy this deal for $150,000 in order to run a mobile home park.  

 I have run into a difficult situation with my tenants in my first rental property.

I know the owner has not done anything to help out his own cause, which is only going to be a larger headache in the long run.