I don't believe there is any one right answer, but hopefully you will find a method that best suites you ambitions and risk appetite.

I spent a lot of time getting my finances straight - and I even have a kid now, so my appetite for risk is down, but desire to make my next real estate investment deal is not.

If it is, and I'm sure of it- I'll know you weren't able to raise funds from friends and I'm going to ask for a disproportionally high cut to make up for the risk I'm absorbing by throwing cash at someone I don't know and who doesn't have a track record.Everyone has a friend or family member with a couple spare bucks and an appetite for opportunity.

I'm sure you could get a number of responses that are going to differ based on everyone's risk appetite, but based upon what you are describing and your familial situation my suggestion would be to continue to leverage as much as you can within your current rental properties and make your primary residence and the industrial warehouse untouchable. 

They all have different appetites and room on the balance sheet for small balance loans. 

Many of the on market properties wont meet the condition qualifications, plus appetite for multis is voracious in this market.

That is enough risk for my appetite without adding in being out of state.

I'm curious if that need exists and whether there is an appetite for such solutions.Here is the idea in a nutshell: While the current lending is usually limited to 70% LTV, sometimes owners have strong cash flow that they would like to leverage although they can't get a higher LTV or the cost of refi would be high, or they simply don't want to refi, rather just pull some working capital in a temporary way.

You can find out which banks have an appetite for mobile home parks by asking the MH/RV brokers in your area, networking through other owners of parks in your area, or simply obtain list of the smaller banks in your area/region and call them to see if they have lent on parks in the past. 

At the end of the day, I’d say it boils down to appetite and what return on investment you’re looking for.