My reservations are that I'd have to furnish it and I have no experience doing rentals.  

I know two years is probably not enough time to see how the expenses will average out over time, but the properties that I have fixed should be good for a long time before they will need repairs again, but in the mean time I take those cash flows and save them in my reserve account or buy more properties.I have never found a way to make a lot of money with out hard work and real estate is no different. 

I personally build up a reserve with cash-flow  and once my reserve requirement is meet I then use it to reinvest. 

I probably paid more than most MH investors would but I am looking at them for long term rental cash flow and they will be paid for in 5 years while still being able to throw about $100 each in cash out a month over expenses and reserve that I can either pay extra on the loan or use for other investments.

Though this would not be the ideal situation, the real threat is the the property as an individual, especially if you don't have the cash reserve to pay the loan in full when it comes called.And in a sub2 situation, it is pretty easy for the seller to turn around and rat the person out to HUD if it really comes down to it, and show them the sub2 contract.

Funny what you can accomplish by having a bit of face time.I've got two properties reserved at the moment and both are undergoing the repairs and renovations needed to get them rented.  

Will the security be on commercial, residential or non-conformingWhat type of marketing will you use to sell the property, private treaty, reserve - absolute auction, listing?

We couldn't refi for holds and retail buyers for our properties were starting to have trouble getting loans meaning that our properties that were finished and ready to go sat as dead weight while we were trying to liquidate.Our $100-200/month cash flow on our stable properties couldn't support the debt service on the vacant/unfinished properties for very long and we ate through our reserves pretty quickly while fire-saling everything to make our private money whole.The 20/20 hindsight is that we sold our best properties early because we thought we could weather it out with enough cash and prices weren't really dropping.  

I've tried multiple times and been outbid or they didn't accept my final offer that was the highest bid (below the reserve).  

Find a deal you're comfortable with, make sure you've got cash reserves, and pull the trigger.