You will need the least amount of downpayment money.The only down side is the moving every year or so, everything else from my point of view are pluses.Transaction costs for real estate are high, closing costs, points, fees, recording fees, etc. 

B- or B/C- but still good to best describe it.

My goal is to view properties in person within the next few weeks and begin the purchase process thereafter.Best regards,Zach S.

This link will give you a ton of info on mobile homes in Texas https://www.tdhca.state.tx.us/mh/You can also view any liens and mortgages on mobile homes on the site here http://mhweb.tdhca.state.tx.us/mhweb/title_view.js...If it's in a park you (and the person you owner finance it to) will most likely have to apply to stay in the park.

Money Mistache" blog (http://www.mrmoneymustache.com/) for a different and eye opening view on personal finance, early retirement, and financial independence.

My Robbinsdale duplex rents for $1250/unit and I bought it for $195k.As an agent & investor, I'm viewing duplexes in western suburbs (Hopkins, Crystal, Golden Valley, etc) going between $230-290k with rents in the range you listed for the 400k properties.So...yeah...to me...you are right in saying it is too high.  

A thorough response as always.I have my own take, and as any attorney will say, this is not legal advice...For the asset protection purposes you need both (1) insurance and (2) properly structured company for litigation protection, an LLC/LP/etc.Insurance protects your from nuisance that occur on the property; i.e. slip and fallThe company structure protects your assets from litigation liability; i.e. gross negligence (health and safety, alleged known hazards, fraud in the sale of the property) as well as someone getting to your assets by suing you personally (e.x. you got into a car wreck that exceeded the coverage of your policy, now they can go after your assets)The due on sale clause is often a concern, but me and my colleagues view it as a very low risk for a number of reasons.

I drove around town, viewed the properties and I was ready with my notes, my values and my “not to exceed” price.I was ready.

IMO, this type of partnership is not a good deal for you as described. 

Overall, I viewed good sportsmanship.