"If Buyer has an ownership interest in more than X units in the community, during the term of the loan Buyer agrees to rebate half of the rents received for all units to Seller as compensation for Seller's increased risk that Buyer's finances may change as a result of HOA actions and may lessen Buyer's ability to repay this loan."

Then I would suggest putting in an offer with an inspection contingency to allow you time to visit the site/area personally, but giving yourself the ability to back out if you aren't comfortable.

He feels like he would like to have the ability to look for the best paying job he can get and not be forced into possibly having to take an entry level position just to stay in the same field.

As @Kevin Hunter mentioned, try to do everything - the only thing stopping you from perusing both at the time is your ability to be efficient with your time and prioritize.

My main concern would be your ability to refinance out of any hard money loan with the foreclosure on your credit.

My wife brought up this idea to me the other day and it intrigued me since I've been interested in container homes for a while now and being a metal worker/welder I have the ability to do cutting and welding on the units.  

Keep doing this until you develop a feel for the type of properties you really like, and the type of agent you work well with.2) Choose one of these agents to be a buyer agent, based on personality, market knowledge, and their ability to work with investors.

A difference of literally 1 street can make the difference of a kid getting his milk money taken so that someone can buy crack, and a quickly appreciating area filled with up and coming artists, organic, earthy/crunchy Hipster types and amazing organic restaurants and bakeries.   

At these rates, the ability to invest the extra cash flow elsewhere is generally more valuable than saving some tax deductible interest expense.

I like the before and after refi cash flow, I like the 15 year appreciation, and I like the ability to pull all of my money out during the refi to use on the next deal.For me one thing that has always been complicated is the ARV for the Refi.