This quite possibly may be my first commercial property deal, and I'm just a bit nervous about pulling the trigger on it.

while that is an awakening for you, its a chance to feed you some knowledge in this January 1, 2019 about mobile homes and the moving parts within them.1st of all, MHPs in CA are a major pain, and analysis paralysis isnt always a bad thing, in this case run from that deal. here is why........that mobile home is  POS.2ndly you i can tell from the info you posted that you dont know about Dodd-Frank or the Safe Act of 2009 which is harsh laws that come down on investors carrying financing to unscrupulous low income buyers of would be mobile homes in parks or on land. 

If you don't pay a 401(k) loan back within five years, the outstanding balance will be considered a 401(k) distribution. 401(k) withdrawals are subject to income tax and might also trigger a 10 percent early withdrawal penalty.

Is this being being too lenient or harsh?

SOOOO many people get into analysis paralysis and never pull the trigger.

I would love to network with as many people as I can so I can learn more and "pull the trigger (water guns)", which is my motto for 2019 because I don't want to be too scared to start something that could really enhance my life!

I would talk to managers before buying that way you can ask them what the estimated rent value is on a property before you pull the trigger. 

I would suggest you make sure you have the end refinance lined up before you pull the trigger and purchase the property.

@Ethan SchneiderShame them.Sounds harsh, but I'd rather have friends who tell me the hard truth then conceal things just to make me feel better.It think it's obvious not to rent to himAlso, he's not in that bad of a situtation.

You will need to have a built-in alarm systems and some municipalities require multifamily buildings  to be a system that auto alerts the local FD on trigger. 2 exits on each floor and that must not be "blocked" by inaccessibility to any floors beneath.