Hind sight and experience are 20/20.

I think it’s the principle of the matter.

The wholesaler had 10-20 people interested in coming up and seeing it the following weekend so I made an offer for $110k sight unseen ($10k higher than asking).

I didn't think anything of it and figured it was just standard procedure (hind-sight 20/20).

One of the oldest principles in investing (any asset class) is diversification. 

And the $20K down payment will be allocated between principle and profit. 

What often occurs in these scenarios is that the investor loses sight of the deal of the investment itself - prioritizing saving on taxes over making a good investment.Tax plan yes, look for opportunities to minimize taxes, but never lose of the deal itself.

I offer unlimited number of mortgages as long as: your income on the IRS returns qualifies; OR you have 24 months bank statements with deposits in one account to show the income; OR you have plenty of liquid assets as in checking and can make it on asset depletion; OR the subject property can qualify with rents called debt service ratio- rents used are either the actual lease plus deposits or what the appraiser considers the market rents less principle interest tax and HOA. 

This isn't a matter of mobile home park owners being short sighted.

You can also offer a balloon payment at 5 years, which allows you to strengthen your credit, lower the principle, and refinance before the end of the term.