I’m still a beginner, but I understand the language for the most part.Learning how to use the “Four Square Method” and determining ROIs was a great game bonus.  

Also included should be a contingency to give me a 14 day inspection period to give me time to find a cash buyer.If you do not have both of these in the contract and you do not find a buyer you have a good chance of losing your deposit.Here is a sample email that I sent to the agent when submitting my offer: Hello Frank After going through the numbers, I've determined the following offer.Offer Name: MD Investments LLC And/Or AssignAddress: 123 Any Street Any City, Any State 12345Offer Amount: $115, 500Deposit: $500Contingency: This offer is subject to a 14 day home inspection of a contractor of the buyers choice which must meet the buyer’s approval.Closing Agent: TBDClosing Date: Closing to be 30 days or sooner if agreeable to all parties from the mutually executed contract.All cash offer.Hope this helped

How does one determine or come up with a community rating?

You also can't determine what rent rates will be in 2-3 years so it's risky to lock in a rate and potentially be way below market.

It's just not going to function quite as an MHP would but still having knowledge in that space will allow you to determine if this would be profitable.Not buying just because you're afraid of having park owned homes is a bad idea.

You might run into adequate HVAC capacity and needing to run additional ductwork (then determining a pro-rata billing set up perhaps) or even an additional unit with separate water meter just the same. 

We have been wanting to invest in real estate for years and are determined to push through any obstacles but want to be smart about it!

A red flag is something that needs to be investigated to determine if there is mortgage fraud or not, it happens all the time. 

How I can determine if I am way overpaying for this property??

The rents used in determining self-sufficiency can actually include the unit you are going to occupy as well.