I’m new into the RE investment scene.

Brand new to real estate investing, only experience I have in RE is buying my current house. 

I have just moved to the USA permanently and I am looking to invest, firstly into a SFH, then into commercial RE.

In addition, if the tenants moved out, you will have to put up a hefty amount to cover your expenses while re-rent it. 

There is just a little less room for error when dealing with a smaller park as you don't have as many lot to absorb a vacancy or an increase in water usage(even if you can collect)..or some repairs to do etc.Good job on negotiating them down so far...for me i will still have to go lower and look something like this....200*18*12*.5/.1=216k purchase priceI prefer to pay lower than this based on a smaller park and limited upside potential based on your observation of market lot rents.  

I should have taken a mortgage on the property years ago and re-invested. 

In order to grow rapidly in RE, you have to use leverage as much as you can, which is exactly the opposite of the approach you described in your initial post ;).

I own 2 condos in the same building (~$150K value each) in Logan Square, one is financed through a local bank that sold the property as a foreclosure several years ago and the other we paid for through a HELOC on our ...

I've never had a problem like this before so...Not sure... it's good to get the unit re-rented asap.

My reason for this is simple, when I was in law school (dropped out, bored and realized I was never going to practice law) an experienced RE attorney and a few of us were having dinner and talking about a lot of aspects of property contracts.