EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

For example, you could find deals that have good long-term potential and buy enough money down so they throw off a bit of cashflow, but not so much equity that it limits your ability to scale.

But the house is only 10 years old, it's huge, it's in a decent area that's still being developed (Eastern East SF Bay Area), and it has the potential to earn us some money.Does the earning potential of the house make up for the headaches of renting in CA and having to pay a boatload of taxes on the equity when we eventually do sell?

As a GC, able to perform all the work myself, I saw massive value add potential with this property.

How do you all handle annual increases to adjust for taxes and potential insurance hikes and would you have them sign a new MTM agreement or add an addendum? 

Even though the cashflow is negative now, would it make sense to hold the property for potential appreciation ? 

If it turns out to be some mythical pie in the sky projection about what the cap rate might be 5 years from now, and my buyer client [ideal outcome to follow] has to use that to negotiate price down, oh well, guess they shouldn't have misled in their marketing, sucks to be the seller who hired a broker that advertises falsely, guess they should do a better job next time.

Although if you are potentially moving in the next 3-6 months then that might not be the wisest strategy. 

It's advisable to complete these repairs before buying the modular home for peace of mind and potential negotiation leverage with the seller.

What was the outcome?