Hm I'm studying Buildium's accounting features.

Rent for a year ... save money like crazy, study the local market, get the lay of the land, network.

You must study how bank appraisers value a park before you take seller financing or you'll risk loosing the park at the end of the balloon.  

That would put that same $60,000 property at $1,335,000.I actually posted a study I did on another forum documenting 12% appreciation of a bunch of condo's with last sales in 2008 & 2009 that so infuriated a few of the OLD members that they got together and had me banned.

But I know from the RE law I studied for my broker license that you can legally charge up to some ridiculous amount (48% or something?)

So you want to find out as much information as you can about that area through Chamber of Commerce, through the economic study, talking to the brokers.

And it takes a ton of research and study to accurately predict where it'll end up in the future, just like with appreciation.

Overall I'm looking to start with passive investments as I don't have a lot of time to spend - I work full time and the majority of the rest of the time is studying/reading for work, with a little time spend learning the world of real estate investing.  

Keep studying!

But do realize if you do this REI has to be secondary to studying.