Also, its a container manufacturer and will build the home from scratch with new materials so we don't have to deal with some negative effects of used containers. 

If there is going to be any major effect, most serious investors should welcome that.

When the title company, escrow agent or attorney prepares the closing documents, they simply factor in the second mortgage payoff amount into the final distribution of funds to the seller.A second mortgage should have little or no effect on a homeowner's ability to sell her home.

I think one of the most important steps is developing, maintaining, and focusing your goals, so that's good you've got a nice list!

It's not rehab, it's a well maintained property with a new 3 garage from 2015, manufactured home on slab, not requiring any repairs it's fully move in ready, owner occupied. 11 acres, nice rural area. 3 bed 2 bath taxes around $2k/yr.

I'm not looking to flip houses or anything, but to keep, maintain, and hold them so it can grow in terms of value.

@Jason Dillard Great point on maintaining tabs on current basis in the house instead of only at the time of acquisition.

You can forget about maintain the home if you rent including the possible capital expense items that may happen before you raise your reserve account used to save part of your rental fees plus you will eleminate travel expenses to keep up with its maintenance and possible capital expense repairs. 

As long as you pass the tests, maintain the CE, and pay the dues. 

So if one partner wants to sell it would be just for the properties we own the two of us and would have no effect on the others.