Assuming I only pay the $395, I assume my next month's balance would start at $104,355?  

Will be very very hard to do 100k a year net on rentals- even assuming you are into MF as a passive investor.

Richard,Assuming that everything was setup properly the 1099-INT will be issued to the 401k Trust EIN, not to you.

If you don't want to pay an attorney to draft a "personal property" contract (assuming the MH is NOT attached to land), then a simple version can be found online. 

You need to assume that, no matter what they say, when it comes down to giving you the money, that 75-90% of the people who said yes won't be able to participate.  

I aiming to properties under 200K in areas where they can rent for positive cash flow (assuming 20% down).

Feel free to assume that zoning and whatnot will be ok, I would check that obviously before purchasing.

If you already have 2 SFRs, you should also try to see how you can leverage the equity built in those properties (assuming this is separate than your existing assets) to eventually buy more properties.

Rookie mistake on my part that I should've pull all records on the house and not assume. 

Im trying to convince my dad that assuming I am debt free in 6 months if we can do a deal then so i can still keep looking at deals.