I'm considering investing with the PE company "Praxis Capital" instead, since they have such a strong track record, and it might be the best way to get my feet wet. 

@Josh Smith  my point in the original post and I guess I did not relay it well.is there is nothing wrong with handing your card to the seller ( its a back up offer) and simply stating if it does not close call me.. we see posts all the time where wholesaler cant get to a wet closing on time.. ( they are idots) and the buyer and seller have the closer redo the hud and cut the wholesaler out. as the seller had no clue how much the middle man was making.and I agree with you when your in markets like were you work were homes are less than cars.. you guys can have at it..

At the end of the day scenario 1 is my goal.The other part of me wants to fix and flip a few SFHs to build more capitol and get my feet wet since FHA+relocation+ 2/4 plex may be a bit much for a first deal.

I am new to investing and getting very close to finally getting my feet wet.

Go to see you getting your feet wet.  

@John Carpo I agree with Jefferson, A boot camp of some sort will get your feet wet in the ins and outs of owning a MHP.   120+ lots will require some sort of on site Managers along with a few amenities.    

This could be a good way to get your feet wet.

I have been reading and researching and listening to the podcasts religiously and feel ready to get my feet wet. 

The paint on the front door was still wet as the tennant was moving in.

I would avoid laminate, simply due to ware and tear and the way it swells up when its gets wet.