The owner is valuing the park at a high commercial price, but my buyer is purchasing to use as a mobile home park initially, with the intent to eventually use it for his own business (his warehouse is a few blocks from this property, along the same street), or to resell it to a major retail business and capture that profit himself.  

You are gaining equity every month and eventually will be able to have enough $100/mo incomes to start putting more cash into your deals and create more cash flow and equity.

Eventually, you'll only do showings if a property looks good in your analysis first, but in the beginning, do as many showings as you can just to get a physical feel for the properties in the market. 5) At this point you'll probably be chomping at the bit to buy something so now it's time to start building a team.

I am looking to learn all I can, get some tips on how to start, find partners in my area, and eventually having my own business.

I want to practice property / deal analysis as much as possible to 1) learn how to accurately (and eventually, quickly) analyze a deal a broker sends my way, 2) learn terms, formulas and nuances of deal analysis to be able to competently speak with brokers and investors, 3) confidently discuss with potential investors why working with me will be beneficial to and help further their goals and 4) just not fudge the whole deal up.  

The goal would be to save for the town home now and eventually rent out the condo.

I eventually just made my own calculator on a spreadsheet and between that and the comps, I can generally tell if a house is worth looking at.

I hope you are looking at this property eventually and not making any decisions prior.

I basically said hey do you have a mortgage ( because I knew I needed steady income) I eventually got the details out of what I was looking at104,000 asking price(Original DWN PMT asked for )  $15,600and his note was $1,389.74 mo PITI(HE OWED THE 104K) as the balance left to pay off the mortgage.

Some say that in a downturn, more people rent thus increasing demand for rentals but I worry about a longer lasting downturn and rents themselves decreasing eventually.