If the deal is good enough a local investor may be willing to fund it and split the profit with you in some fashion.

This unit is a condo in a larger building.

I found that , yes, I saved on taxes, but that maybe without the time pressure of those 45 days, I could have sat back and maybe found an awesome deal (instead of just a good one) , that would have ultimately created more profit for me than what I have saved on taxes. 

It's a good deal when you can create a solution for the seller and a profit for yourself.

The setup, legal and continuing compliance costs alone will eat into most, if not all, of your profits. 

I was thinking it would help keep my stress levels down compared to a larger investment.

Not only is it not scalable but if I was to analyze my profit by going off the number of hours I've spent fixing this place up it would be the worst hourly rate I've had in my life.

Will I be able to place a mobile or stick-built home on the property without any issues or sell it for a profit?

@Luis Vaca, big names could eat into profits. 

Huge profit margin on this deal.