There is a large market for sub $1500 SFRs, once you break that limit the pool of applicants gets smaller due to demographics and income, but keep in mind that a lot of the downtown brand new class A apartment buildings are charging anywhere from $1700 to $2600 a month, even more in the Third Ward.

Do you mind sharing what terms are you getting on the commercial LoC?

If I was in the tenant's shoes, I wouldn't mind because I obviously wouldn't be in the bathroom with the other person at the same time.

Ironically, it opened my mind to the stock market.

Keep that in mind for your future prospects as I can imagine that will be a HUGE change!

Keep in mind he wants owner financing because he can not qualify for bank financing...very high risk.

I'd in addition to reading, you'd want to surround yourself with like-minded investors by finding the local REI clubs via meetup site.

Keep in mind every park is different, what your financing source is is important, what kind of capital your bringing to the deal, timeline of investment, and what overall exit plan of the park is for you as an investor based on your goals. 

Would you mind sharing either some of your offers or how low you went from asking price just as an example?

IE they work C/D class..I suspect many need to do this to establish their loss's for the pending litigation.. keep in mind these properties are going to revert to the mean  IE wholesale prices so there is going to be a ton of equity lost.. but one call I can probably get them all sold  no problem.