I first became interested in real estate after a high school friend of mine partnered with some people close to him to flip a house where he turned a large profit, especially for a 20 year old. He told me about the Bi...

Buying a modular or mobile home first and then next move into a single family.Buying a home out of state only having to put 10% down can be used as a short term rental immediately then on the second year you refinance and transition into a investment you only need 85% LTV.The tough part is when a buyer purchases a single family home and then wants to buy a 2-4 unit and say they want to live in a unit.

I got into a mobile home on 3 acres in suburb of Tulsa ok, the owner quit claimed deed to me and we signed a contract that I would rehab and sell at that time he gets $60,000.

You find out up front if they have any cash or not, vs burning 30-45 days to find it appraises at your listing price, and they don't have the cash to close.Get a VA checklist from one of your trusted lenders and make sure everything in the house meets the checklist. 

I'm still current on my payments but by now all the hope is lost.all of my life savings are gone, and now I'm about to have collectors on my back for the rest of my life.I need an advice how to navigate through giving up on the properties.DennisYou will have to save up again.And not see this as the end, but look for more cunning ways to begin again.I do not do AirBnB type stuff, but you seem to like it (yet it is momentarily down--it will probably come back up again), but once burned!

If it's the latter what's your issue with a mobile home?

I to have been burned by contractors, Im sure most people have.

. - Types of assets with common seller carry potential include SFR's, Multi family (small balance) complexes, industrial or warehouse space, RV or Mobile home parks, storage facilities and vacant land. 

You can’t stop the house from burning down after you incurred costs, but before you’ve closed. if you’re leveraging, you can’t change interest rate (much.) you can’t guarantee that you don’t have a year of rent loss because your state decided to put a moratorium on evictions. did you see the case in California where the guy sold his house but didn’t move out?

Doors (or clients) that require extensive and constant attention from my staff are not long for this world and will be cut loose.As @Richard F. mentioned, clients fall into those two categories (micromanaging, time-sucking parasites who place zero value on the value of your time, or the "don't bother me unless the house burned down" clients).